Structural labour market reforms, GDP growth and the functional distribution of income

Brancaccio, Emiliano; Garbellini, Nadia; Giammetti, Raffaele

doi:10.1016/j.strueco.2017.09.001

Cited by 63 publications

(31 citation statements)

References 34 publications

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“…Fuelled by these arguments, and the recommendations made by international organizations, such as the European Commission, the International Monetary Fund, the Organization for Economic Cooperation and Development (OECD), many economies have approved labour market reforms. These reforms have acted on what is presumed to be the main sources of rigidities in the labour market: the unemployment protection schemes, the collective bargaining and the employment protection legislation (Brancaccio et al, 2018;Ferreiro and Gomez, 2017;Kugler, 2019;McBride and Watson, 2019;Tridico and Pariboni, 2017). It was taken for granted that in the longterm these reforms would lead to more employment and to lower and more stable unemployment rates.…”

Section: Labour Market Institutions Employment Protection and Labourmentioning

confidence: 99%

Quality of employment and employment protection. Effects of employment protection on temporary and permanent employment

Arestis

Ferreiro

Gómez

2020

Structural Change and Economic Dynamics

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Section: Labour Market Institutions Employment Protection and Labourmentioning

confidence: 99%

Quality of employment and employment protection. Effects of employment protection on temporary and permanent employment

Arestis

Ferreiro

Gómez

2020

Structural Change and Economic Dynamics

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“…Recently the models including technical changes, education, intellectual capital, trade and other institutionally determined factors as a kind of growth component are the most popular (Alonso-Carrera & Raurich, 2018;Gabardo et al 2017;Brancaccio et al, 2018;Iamsiraroj, 2016;Felice, 2016, etc. ).…”

Section: Economic Growth and Technological Changesmentioning

confidence: 99%

“…In the framework of modern approaches in the theory of economic growth, the features of the influence on the economic dynamics of various factors are studied, with an emphasis on the factor of scientific and technological progress and technological changes. We'd focused upon the institutional and technological factors of economic growth, using the accumulated knowledge within the framework of the modern growth theory (Alonso-Carrera & Raurich, 2018;Gabardo, Pereima, & Einloft, 2017;Samaniego & Sun, 2016;Brancaccio, Garbellini, & Giammetti, 2018;Iamsiraroj, 2016;Felice, 2016;Aguirre, 2017;Bartolini & Santolini, 2017;Balachandran & Williams (2018), to show the individual problems and unresolved issues. An urgent task in relation to the current situation is to justify the policy of economic growth and in conjunction with the theoretical developments that economics has today.…”

Section: Introductionmentioning

confidence: 99%

Economic Policy of Growth: Selection of Institutes and Technological Models of Development

Sukharev

Chaplygin

2019

Proceedings of 6th International Scientific Conference Contemporary Issues in Business, Management and Economics Engineering ‘2

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Purpose – to study the possibilities of institutional theory to establish a modern theory of economic growth, including the factors of institutions and technologies changes. These factors are a set of rules with high coercive force to the agents’ action form a particular mode/model of their adaptation, together with other institutions. Research Methodology – the neoclassical models of economic growth, which may include institutional factors and to study their impact on the growth and change of the factors, into the business practice are applied. The key scientific problem is to choose the right market Institute for a proper way of technological development. The authors use the micro-level analysis of the agents and institutions’ interaction in the process of new technologies appearance. Morphological and taxonomic analysis in order to highlight the models of technological development and economic growth had been applied. Findings – the research results may enrich an economic theory and practice in the area of business models applicability. The findings may assist a business community to influence the general technological development within the national institutional systems. Research limitations – due to the fact that different institutions, structures and technologies act on the economic dynamics at the same time, separating their influence is an independent scientific problem that is not solved in all cases. However, the set of considered institutional factors forms and provides a kind of “manufacturability” of economic growth. Practical implications – the so-called institutional macroeconomics as a practical discipline (which has a very close connection with behavioural macroeconomics) may assist to explore the economic growth from the point of view of changing institutions (firms, business community), labour markets and information – technical and technological changes. Originality/Value – the value of the research consists in the systematization of institutional factors affecting the economic growth, conducting a morphological structural analysis of growth types, which allow identifying eight main growth trajectories in business activity.

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“…Indeed, several recent studies suggest that more rigid labor regulations may actually decrease inequality (for a review of recent works see e.g. Brancaccio et al, 2018).…”

Section: Introductionmentioning

confidence: 99%

Job duration and inequality

Desiderio

2020

Economics

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As suggested by recent empirical evidence, one of the causes behind the widespread rise of inequality experienced by OECD countries in the last few decades may have been the increased flexibility of labor markets. The authors explore this hypothesis through the analysis of a stock-flow consistent agent-based macroeconomic model able to reproduce with good statistical precision several empirical regularities. They employ three different sensitivity analysis techniques, which indicate that increasing job contract duration (i.e. decreasing flexibility) has the effect of reducing income and wealth inequality. However, the authors also find that this effect is diminished by tight monetary policy and low credit supply. The last result suggests that the final outcome of structural reforms aimed at changing labor flexibility can depend on the macroeconomic environment in which these are implemented.JEL C15 C63 D31 E50 J01 J41

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Structural labour market reforms, GDP growth and the functional distribution of income

Cited by 63 publications

References 34 publications

Quality of employment and employment protection. Effects of employment protection on temporary and permanent employment

Quality of employment and employment protection. Effects of employment protection on temporary and permanent employment

Economic Policy of Growth: Selection of Institutes and Technological Models of Development

Job duration and inequality

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