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LABOR MARKET INSTITUTIONS AND MACROECONOMIC VOLATILITY IN A PANEL OF OECD COUNTRIES.
- Source :
- Scottish Journal of Political Economy; Jul2011, Vol. 58 Issue 3, p396-413, 18p, 4 Charts, 6 Graphs
- Publication Year :
- 2011
-
Abstract
- In this paper we analyze empirically how labor market institutions influence business cycle volatility in a sample of 20 OECD countries. Our results suggest that countries characterized by high union density tend to experience more volatile movements in output, whereas the degree of coordination of the wage bargaining system and the strictness of employment protection legislation appear to be only of limited importance. We also find some evidence suggesting that highly coordinated wage bargaining systems have a dampening impact on inflation volatility. [ABSTRACT FROM AUTHOR]
- Subjects :
- LABOR market
MACROECONOMICS
MARKET volatility
BUSINESS cycles
LABOR unions
LABOR laws
Subjects
Details
- Language :
- English
- ISSN :
- 00369292
- Volume :
- 58
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- Scottish Journal of Political Economy
- Publication Type :
- Academic Journal
- Accession number :
- 60109077
- Full Text :
- https://doi.org/10.1111/j.1467-9485.2011.00552.x