Why Labor Market Response Differed in the Great Recession: The Impact of Institutions and Policy
Karl Aiginger (),
Gerard Horvath () and
Helmut Mahringer ()
Additional contact information
Helmut Mahringer: Austrian Institute of Economic Research (WIFO)
DANUBE: Law and Economics Review, 2012, issue 3, pages 1-19
This paper investigates the performance of labor markets during the recent crisis for 28 industrialized countries, specifically the reaction of employment and unemployment indicators relative to output changes.We construct a composite indicator for output as well as labor market performance. The determinants of cross-country differences we chose are regulation, flexicurity elements and contracts. We find robust positive impact from labor market regulation, while the impact of flexicurity strategies and contracts are difficult to pin down econometrically. Finally, we venture a tentative look at the ongoing recovery.
Keywords: Financial Crisis; Great Recession; Labor Market; Short-TimeWork Agreements; Flexicurity; Okun’s Law (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
Working Paper: Why Labour Market Response Differed in the Great Recession: The Impact of Institutions and Policy
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:cmn:journl:y:2012:i:3:p:1-19
Access Statistics for this article
DANUBE: Law and Economics Review is currently edited by September
More articles in DANUBE: Law and Economics Review from European Association Comenius - EACO
Series data maintained by Zuzana Machova ().