Institutional Structure and Labor Market Outcomes: Western Lessons for European Countries in Transition

Robert Flanagan

No 1995/063, IMF Working Papers from International Monetary Fund

Abstract: Changes in economic systems provide a rare opportunity to redesign basic institutional structures in labor markets. This paper attempts to provide guidance for such institutional choice by drawing on the findings of recent labor market research in market economies on the links between institutional structure and labor market performance. After considering the suitability of research from market economies for the labor market problems faced by economies in transition from central planning, the paper considers the effects of alternative institutions for wage determination (collective bargaining structures and minimum wage and indexation legislation), employment security, income security, and active labor market policy.

Keywords: WP; wage dispersion; compression policy; determination mechanism; restraint policy; subsidy program; wage pressure; reemployment wage; wage demand; wage determination mechanism; wage worker; administered wage structure; wage differentiation; reservation wage; transition economy; Labor markets; Wages; Active labor market policies; Unemployment; Employment; Central and Eastern Europe; Europe (search for similar items in EconPapers)
Pages: 28
Date: 1995-07-01
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