Crisis, What Crisis? Patterns of Adaptation in European Labor Markets

Werner Eichhorst, Michael Feil () and Paul Marx ()
Additional contact information
Michael Feil: Institute for Employment Research (IAB), Nuremberg
Paul Marx: University of Bonn

No 5045, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: The current crisis, while of a global nature, has affected national labor markets to a varying extent. While some countries have experienced a steep increase in unemployment, employment in other developed economies has not fallen in parallel with a significant decline in GDP. Our analysis shows that labor market institutions frequently used to study employment performance can explain the development of unemployment in the situation of crisis in some clusters of countries much better than in others. One major factor to be incorporated in capturing national variations is the role of internal flexibility, in particular working time adjustment. This calls for a broader concept of labor market flexibility which takes into account different channels of adjustment.

Keywords: employment protection; labor market institutions; internal flexibility; economic crisis (search for similar items in EconPapers)
JEL-codes: J21 J23 J58 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2010-07
New Economics Papers: this item is included in nep-lab
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Citations: View citations in EconPapers (40)

Published - published in: Applied Economics Quarterly Supplement, 2010, 56 (61), 29-64

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Journal Article: Crisis, What Crisis? Patterns of Adaptation in European Labor Markets (2010)
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