Employment to output elasticities and reforms towards flexicurity: Evidence from OECD Countries

Holger Görg, Cecília Hornok, Catia Montagna and George Onwordi

No 2020-24, Discussion Papers from University of Nottingham, GEP

Abstract: Labour market reforms in the direction of 'flexicurity' have been widely endorsed as a means to increasing an economy's ability to adjust to negative shocks while offering adequate social safety nets. This paper empirically examines how such reforms infl uence employment's responsiveness to output fluctuations (employment-output elasticity). To address this question, we employ a panel of OECD countries, which also incorporates the period of the Great Recession, and distinguish between passive and active labour market policy types. We find that the effects of any single policy change are shaped by the broader existing policy-mix within which it takes place.

Keywords: employment-output elasticity; labour market policy; welfare state; flexicurity (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-mac
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Working Paper: Employment to output elasticities and reforms towards flexicurity: Evidence from OECD countries (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:not:notgep:2020-24

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