Enhancing Economic Flexibility

Cournède, Boris; Denk, Oliver; Garda, Paula; Hoeller, Peter

doi:10.1787/b8558a5b-en

Cited by 1 publication

(1 citation statement)

References 31 publications

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“…Stronger active labour market programmes (ALMPs) result in higher average and more inclusive growth as well as less extreme negative tail risks (Caldera Sánchez et al 2016). In addition they facilitate hiring (OECD 2015) and enhance the boost employment benefits of pro-competitive reforms (Cournède et al 2016). Policy settings that reduce labour market segmentation, including by reducing employment protection for regular workers where it is excessive, raise the resilience of labour markets during severe recessions.…”

Section: Product and Labour Market Policiesmentioning

confidence: 99%

T20 resilience and inclusive growth

et al. 2018

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Severe recessions and financial crises are frequent. Their effect on the economy is persistent and often exceeds initial projections. They can also be a strong driver of widening inequality. Therefore it is important that measures be taken to minimize the risk of such events while strengthening the potential for economies to innovate and prosper (Phelps, Mass Flourishings: How Grassroots Innovation Created Jobs, Challenge and Change, 2013). An economy's resilience to crises and recessions can also be strengthened. Minimizing risks requires the accurate monitoring of home-grown vulnerabilities in realtime; coping with the consequences means identifying and putting in place policy settings and mechanisms that can help absorb the impact of a severe downturn and facilitate a swift rebound of economic activity. Strengthening resilience will also provide a key contribution to solving the global problems of rising populism, nationalism and protectionism.(Published as Global Solutions Paper) JEL A10 C01 G01 G28 P16

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Section: Product and Labour Market Policiesmentioning

confidence: 99%