Regional Labor Market Adjustments in the United States and Europe PDF Download
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Author: Mai Dao
Publisher: International Monetary Fund
ISBN: 1475598599
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
We examine patterns of regional adjustments to shocks in the US during the past 40 years. Using state-level data, we estimate the dynamic response of regional employment, unemployment, participation rates and net migration to state-relative labor demand shocks. We find that (i) the long-run effect of a state-specific shock on the state employment level has decreased over time, suggesting less overall net migration in response to a regional shock, (ii) the role of the participation rate as absorber of regional shocks has increased, (iii) the response of net migration to regional shocks is stronger, while that of relative unemployment is weaker during aggregate downturns, and (iv) the change in the response intensity of migration is related to the declining trend in regional dispersion of labor market conditions. Finally, using regional data for a set of 21 European countries, we show that while the short-term response of participation rates to labor demand shocks is typically larger in Europe than in the US, the immediate response of net migration in Europe has increased over time.
Author: Mai Dao
Publisher: International Monetary Fund
ISBN: 1475598599
Category : Business & Economics
Languages : en
Pages : 38
Get Book Here
Book Description
We examine patterns of regional adjustments to shocks in the US during the past 40 years. Using state-level data, we estimate the dynamic response of regional employment, unemployment, participation rates and net migration to state-relative labor demand shocks. We find that (i) the long-run effect of a state-specific shock on the state employment level has decreased over time, suggesting less overall net migration in response to a regional shock, (ii) the role of the participation rate as absorber of regional shocks has increased, (iii) the response of net migration to regional shocks is stronger, while that of relative unemployment is weaker during aggregate downturns, and (iv) the change in the response intensity of migration is related to the declining trend in regional dispersion of labor market conditions. Finally, using regional data for a set of 21 European countries, we show that while the short-term response of participation rates to labor demand shocks is typically larger in Europe than in the US, the immediate response of net migration in Europe has increased over time.
Author: Julian Messina
Publisher: Edward Elgar Publishing
ISBN: 184542896X
Category : Business & Economics
Languages : en
Pages : 259
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Book Description
. . . the book is an interesting contribution to the literature on labour market practices in Europe. The important statistics and analysis conducted by the authors in the book have important implications for scholars in the international entrepreneurship field wanting to know more about the diverse labour practices in Europe. Vanessa Ratten, Journal of International Entrepreneurship It is now widely accepted that expansionary fiscal or monetary policies alone are unlikely to help Europe s ailing economies. Solving Europe s economic problems requires reform of the economic institutions that influence economic activity and the way the economy responds to macroeconomic shocks. This volume employs novel approaches to the study of some of these institutions. The group of contributors in this book come from academia and international organizations in Europe and the USA. They focus on trade unions, which affect real-wage flexibility and the provision of training to workers. They also concentrate on employment protection legislation, which discourages firms from firing old workers and also from hiring new ones. The structure of housing market imperfections that can greatly affect regional mobility is also discussed. Labour economists and scholars of European studies, as well as economic policymakers, will read Labour Market Adjustments in Europe with great interest.
Author: Robert Beyer
Publisher:
ISBN:
Category :
Languages : en
Pages : 34
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Book Description
We compare the labour market response to region-specific shocks in Europe and the US and to national shocks in Europe and investigate changes over time. We employ a multi-level factor model to decompose regional labour market variables and then estimate the dynamic response of the employment level, the employment rate and the participation rate using the region-specific variables and the country factors. We find that both in Europe and the US labour mobility accounts for about 50% of the long run adjustment to region-specific labour demand shocks and only a little more in the US than in Europe, where adjustment takes twice as long. In Europe labour mobility is a less important adjustment mechanism in response to country-specific labour demand shocks that cause stronger and more persistent reactions of the employment and the participation rate. However, we detect a convergence of the adjustment processes in Europe and the US, reflecting both a fall in interstate migration in the US and a rise in the role of migration in Europe. Finally, we show that part of the difference between Europe and the US in previous studies may be due to the use of different data sources.
Author:
Publisher:
ISBN: 9789289915809
Category :
Languages : en
Pages : 31
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Book Description
We compare the labour market response to region-specific shocks in Europe and the US and to national shocks in Europe and investigate changes over time. We employ a multi-level factor model to decompose regional labour market variables and then estimate the dynamic response of the employment level, the employment rate and the participation rate using the region-specific variables and the country factors. We find that both in Europe and the US labour mobility accounts for about 50% of the long run adjustment to region-specific labour demand shocks and only a little more in the US than in Europe, where adjustment takes twice as long. In Europe labour mobility is a less important adjustment mechanism in response to country-specific labour demand shocks that cause stronger and more persistent reactions of the employment and the participation rate. However, we detect a convergence of the adjustment processes in Europe and the US, reflecting both a fall in interstate migration in the US and a rise in the role of migration in Europe. Finally, we show that part of the difference between Europe and the US in previous studies may be due to the use of different data sources.
Author: Margaret S. Gordon
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 256
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Book Description
Author: George S. Alogoskoufis
Publisher:
ISBN:
Category : Employment (Economic theory)
Languages : en
Pages : 86
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Book Description
Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451854781
Category : Business & Economics
Languages : en
Pages : 98
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Book Description
This paper examines the role of the labor market in the transmission process of adjustment policies in developing countries. It begins by reviewing the recent evidence regarding the functioning of these markets. It then studies the implications of wage inertia, nominal contracts, labor market segmentation, and impediments to labor mobility for stabilization policies. The effect of labor market reforms on economic flexibility and the channels through which labor market imperfections alter the effects of structural adjustment measures are discussed next. The last part of the paper identifies a variety of issues that may require further investigation, such as the link between changes in relative wages and the distributional effects of adjustment policies.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264216502
Category :
Languages : en
Pages : 382
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Book Description
This publication gathers the papers presented at the “OECD-EU dialogue on mobility and international migration: matching economic migration with labour market needs” (Brussels, 24-25 February 2014), a conference jointly organised by the European Commission and the OECD.
Author: Günther Schmid
Publisher: Edward Elgar Publishing
ISBN: 1848441479
Category : Political Science
Languages : en
Pages : 397
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Book Description
The book is without doubt a must-read reflection on the notion of full employment and a source of inspiration for the establishing of the knowledge-based economy that is such an aspiration for Europeans. Thomas Bauwens, Agence Europe Every book by Günther Schmid is an event. This one illuminates the current European policy debate on flexicurity . It gives fresh analyses of the comparative employment performances of the EU and the USA, and proposes a path-breaking framework for understanding and improving them. Pragmatic and provocative, Schmid s contribution should be a must for researchers, but also for HR managers, social partners representatives and policymakers interested in the present and future of work and employment. Bernard Gazier, University Paris 1 and a Member of the Institut Universitaire de France Transitional Labour Markets (TLM) defined as legitimate, negotiated and politically supported sets of various employment options in critical events over the life course are an essential ingredient of modern full employment strategies. After assessing the European Employment Strategy, this book offers a detailed comparative analysis of employment performance for selected European member states and the United States. It suggests that successful employment systems arise from a new paradigm of flexibility and security ( flexicurity ) the balance of which varies according to countries institutional paths. Whilst there is no best practice , TLM theory does provide normative and analytical principles that can be generalised for various institutional settings. The book also provides good practice examples for managing critical transitions over the life course from education to employment, from one job to another, from unemployment to employment, from private activities to gainful work and from employment to retirement and develops the contours for extending unemployment insurance to work life insurance. With a fresh and new approach to the question of full employment in modern society, this book will appeal to academic scholars interested in labour market and employment policies, and policy decision makers at local, regional, national and European levels.
Author: Kazuyoshi Kōshiro
Publisher: Wayne State University Press
ISBN: 9780814320792
Category : Business & Economics
Languages : en
Pages : 180
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Book Description
Since the oil crisis of the 1970s, increased labor market flexibility seems to have become an indispensable ingredient of economic success. This book examines the critical issues that affect labor market flexibility and job security in the main industrialized economies of the United States, Japan, West Germany, the United Kingdom, and Europe, in an attempt to more fully understand the complex forces at work within such labor markets. Employment Security and Labor Market Flexibility originated from The International Symposium on Labor Market Flexibility in Yokohama, Japan, in 1986, in which scholars in economics, industrial relations, and labor law scholars scrutinized the similarities and differences of the labor markets in these countries. They focused on three main topics: wage flexibility in response to changing economic conditions, the legal and institutional framework for employment security, and international comparison of employment adjustment. Comparison of wage flexibility as well as numerical and functional flexibility among these countries were examined by both qualitative and quantitative analyses. The labor market cannot be treated in the same way as other markets because it deals directly with human beings who are less likely to obey the immutable laws of the market mechanism. Nevertheless, Kazutoshi Koshiro asserts that it is still important to build a framework on which to understand and assess the role of labor flexibility in the competitive process, and it is with this framework in mind that these chapters have been assembled into one volume. Individual chapters compare the relative flexibility of compensation and employment over the business cycle in the United States with that of Japan; analyze the relative flexibility of Japanese wages; unravel some of the underlying forces that comprise the employment security situation in the United States; study the important relationship between economic conditions and the labor market and explain the difference between the employment protection legislation of the United States on the one hand, and Europe and Japan, on the other; and compare the nature of labor markets and employment adjustment techniques of the United States, Europe, and Japan.
