 Effects of labour-market institutions on employment, wages, R&D intensity and growth in 27 OECD countries: From theory to practiceEconomic Modelling, 2016, vol. 53, issue C, 48-62 Abstract: We extend the existing literature by focusing on the implications of labour-market institutions on (i) relative (un)employment of unskilled labour, (ii) wage inequality in favour of skilled labour, (iii) R&D intensity, and (iv) the economic growth, and by considering 27 OECD countries. By linking the unskilled wage to the skilled one, due to the indexation of social benefits to per-capita income, we accommodate the observed short-medium-long run paths of the four variables – in (i), (ii), (iii) and (iv) – in all countries between 1991 and 2008. On average, the obtained results also reveal that: Continental-European countries present the highest skilled-labour share in production; Eastern-European countries record the highest size of R&D spillovers; Nordic countries have the highest share of skilled labour in the total population, R&D intensity, and proportionality factor related to the generosity of the (unemployment) benefits; and Eastern-Asian countries have the highest unskilled-labour share in production. Keywords: Labour-market institutions; (Un)employment; Wage inequality; Endogenous economic growth; Calibration (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:53:y:2016:i:c:p:48-62 DOI: 10.1016/j.econmod.2015.11.009 Access Statistics for this article Economic Modelling is currently edited by S. Hall and P. Pauly More articles in Economic Modelling from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.