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Identifying asymmetric effects of labor market reforms

Britta Gehrke () and Enzo Weber

No 201723, IAB Discussion Paper from Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany]

Abstract: "This paper investigates whether the effects of structural labor market reforms depend on the business cycle. Based on search and matching theory, we propose an unobserved components approach with Markov switching to distinguish the effects of structural reforms that increase the flexibility of the labor market in recession and expansion. Our results for Germany and Spain show that reforms have substantially weaker expansionary effects in the short-run when implemented in recessions. In consequence, reforms are unlikely to mitigate the impact of crisis in the short-run. From a policy perspective, these results highlight the costs of introducing reforms in recessions." (Author's abstract, IAB-Doku) ((en))

Keywords: Arbeitsmarktpolitik; Reformpolitik - Auswirkungen; Beschäftigungseffekte; Konjunkturabhängigkeit; Rezession; Konjunkturaufschwung; matching; Arbeitsplatzsuchtheorie; Integrierte Arbeitsmarktbiografien; Bundesrepublik Deutschland; Spanien (search for similar items in EconPapers)
JEL-codes: C32 E02 E32 J08 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec, nep-eur, nep-lab and nep-mac
Date: 2017-07-31
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