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Labour market hierarchies and the macro-economy – Do labour market dualities affect wage growth in Europe?

Paul Ramskogler

Structural Change and Economic Dynamics, 2021, vol. 56, issue C, 154-165

Abstract: The drivers of wage growth in Europe are insufficiently understood. I argue that the institutional structure of labour markets – particularly labour market dualities – improve our understanding of the determinants of wage growth. This also helps to understand the period of a secular decline in wage growth after the crisis. Using data for the member states of the EU from Q1 2004 to Q4 2016, I demonstrate that there is a negative effect of the incidence of temporary contracts on overall wage growth. Further, I am able to show that it has considerably increased since the global financial crisis.

Keywords: J31; J42; J82; Wage growth; Labour market duality; Dual labour market theory (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1016/j.strueco.2020.10.001

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