The Effects of Labour Market Flexibility in the Monetary Theory of Production

Pacella, Andrea

doi:10.1111/j.1467-999x.2008.00330.x

Cited by 6 publications

(8 citation statements)

References 39 publications

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“…6, No. 1;2016 improvement, creditworthiness, and so on. Moreover FSR increases employees' performances and labor productivity allowing firms to absorb the costs incurred to implement social strategies.…”

Section: Ethical Codes Firms' Social Responsibility and Job Qualitymentioning

confidence: 99%

“…6, No. 1;2016 societies, and societies need healthy markets in order to prosper" (Note 11). The firms adhering to the Global Compact committed to sustain workers protection and their rights to abolish all forms of exploitation and discrimination above all.…”

Section: Ethical Codes Firms' Social Responsibility and Job Qualitymentioning

confidence: 99%

“…6, No. 1;2016 labour market. Labour market is self-regulated when regulation is endogenous and it derives from the bargaining or by a 'natural evolution'.…”

Section: Social Responsibility and Flexibility Of Labour Contractmentioning

confidence: 99%

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Does Firms’ Social Responsibility Counteract Some Critical Effects of Labor Market Flexibility?

Oliva¹,

Pacella²

2016

JMS

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The aim of this paper is twofold. First, it will be argued that the flexibility in labour contract duration can be ineffective in increasing productivity, profits and employment when workers test a high state of uncertainty. Second, it will be shown that these effects can be reduced when firms put into effect a system of social responsibility. What emerges is that while flexibility produces unstable collaborative behavioural codes between employers and employees that damage both, the firms' social responsibility contributes to spread a spirit of shared values and personal gratifications amongst workers that reduce this instability and generate positive economic performances.

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Section: Ethical Codes Firms' Social Responsibility and Job Qualitymentioning

confidence: 99%

Section: Ethical Codes Firms' Social Responsibility and Job Qualitymentioning

confidence: 99%

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Does Firms’ Social Responsibility Counteract Some Critical Effects of Labor Market Flexibility?

Oliva¹,

Pacella²

2016

JMS

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“… Pacella () also defines labor market flexibility as having two dimensions: (a) wage flexibility and (b) flexibility of labor contract duration. However, in his analysis, he refers mainly to the flexibility of labor contract duration which corresponds to employment flexibility in this paper.…”

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confidence: 99%

Macroeconomic stability in a flexible labor market

2018

Metroeconomica

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This paper examines the relationship between labor market flexibility and macroeconomic stability from a post‐Keynesian perspective. Considering two aspects of labor market flexibility, employment flexibility and real wage flexibility, I adopt the flex–output model to discuss employment flexibility and extend it by incorporating real wage dynamics induced from a wage–price Phillips curve to discuss real wage flexibility. Simulation of the model suggests that employment flexibility possibly increases instability of an economy whereas real wage flexibility reduces it.

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“… Pacella () develops a rare heterodox macroeconomic model that addresses the issue of employment flexibility. However, the model focuses on the issue of how employment flexibility affects the spending by workers in the presence of consumer borrowing, rather than directly examining slow or fast changes in employment due to different levels of employment flexibility, and does not consider dual labour markets.…”

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confidence: 99%

Employment Flexibility, Dual Labour Markets, Growth, and Distribution

2015

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Many policymakers and economists have argued in favour of greater labour market flexibility as a part of structural adjustment reforms that are expected to improve economic performance. Existing post-Keynesian-Kaleckian (PKK) models are unable to address these issues because they assume away long-term labour by allowing employment to be short term and adjusting freely with output. This paper introduces long-term labour into PKK models. We develop a model that provides alternative ways of modelling labour market flexibility and suggest that when aggregate demand issues are important, an increase in employment flexibility is likely to have adverse growth and distributional impacts.

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The Effects of Labour Market Flexibility in the Monetary Theory of Production

Cited by 6 publications

References 39 publications

Does Firms’ Social Responsibility Counteract Some Critical Effects of Labor Market Flexibility?

Does Firms’ Social Responsibility Counteract Some Critical Effects of Labor Market Flexibility?

Macroeconomic stability in a flexible labor market

Employment Flexibility, Dual Labour Markets, Growth, and Distribution

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