Labor market rigidity, unemployment, and the Great Recession

Murat Tasci and Mary Zenker

Economic Commentary, 2011, issue June

Abstract: Countries with very flexible institutions and labor market policies, like the U.S., experienced substantial increases in unemployment over the course of the Great Recession, while countries with relatively rigid institutions and strict labor market policies, like France, fared better. However, this better short-term performance comes with a tradeoff; evidence suggests that flexible labor markets keep unemployment lower in the long run.

Keywords: Labor market; Recessions; Unemployment (search for similar items in EconPapers)
Date: 2011
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