Quantitative Flexibility in the US Labour Market

Steven G. Allen and Richard Freeman

Chapter 8 in Labour Productivity and Flexibility, 1997, pp 255-289 from Palgrave Macmillan

Abstract: Abstract The US labour market is widely viewed as a paragon of neo-classical flexibility. Wages respond rapidly to changes in supply and demand, with little institutional intervention. Firms hire and fire at will, with few government or union restrictions. Spells of unemployment are short, and unemployment benefits modest.

Keywords: Real Wage; Wage Inequality; Labour Market Flexibility; Wage Adjustment; Sectoral Reallocation (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-25977-9_8

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DOI: 10.1007/978-1-349-25977-9_8

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