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NO CONSENSUS IN THE IMF-OECD 'CONSENSUS': A META-ANALYSIS ON THE EMPLOYMENT IMPACT OF LABOUR DEREGULATIONS

Emiliano Brancaccio (), Fabiana De Cristoforo () and Raffaele Giammetti ()
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Fabiana De Cristoforo: Institute of Economics and EMbeDS Department, Scuola Superiore Sant’Anna, Pisa

No 445, Working Papers from Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali

Abstract: The so-called 'IMF-OECD consensus' suggests that labour market deregulations increase employment and reduce unemployment. We present a first meta-analysis on the subject based on MAER-NET guidelines. We examine the relation between Employment Protection Legislation indexes on one hand and employment and unemployment on the other. Among 53 academic papers published between 1990 and 2019 and contained in the Web of Science, only 28% supports the 'consensus' while the remaining 72% report results that are controversial (21%) or contrary to the 'consensus' (51%). The decline in 'consensus' is particularly evident in the last decade. Results are independent of the citations of the papers examined, the impact factor of the journals and the techniques used. A FAT-PET meta-regression model confirms these outcomes.

Keywords: Labour market; Employment protection legislation; Unemployment; Meta-analysis; Meta-Regression (search for similar items in EconPapers)
JEL-codes: B5 C83 E24 J48 K31 (search for similar items in EconPapers)
Pages: 30
Date: 2020-07
New Economics Papers: this item is included in nep-hme, nep-law, nep-lma and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:anc:wpaper:445

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