Labour Market Adjustments in Europe

Labour Market Adjustments in Europe
Author: Julian Messina
Publisher: Edward Elgar Publishing
Total Pages: 259
Release: 2006-01-01
Genre: Business & Economics
ISBN: 184542896X

. . . 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.

Regional Labor Market Adjustments in the United States and Europe

Regional Labor Market Adjustments in the United States and Europe
Author: Mai Dao
Publisher: International Monetary Fund
Total Pages: 38
Release: 2014-02-11
Genre: Business & Economics
ISBN: 1475598599

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.

Labour Market Adjustments in Europe and the US

Labour Market Adjustments in Europe and the US
Author: Robert Beyer
Publisher:
Total Pages: 34
Release: 2015
Genre:
ISBN:

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.

Labour Market Adjustments in Europe and the US

Labour Market Adjustments in Europe and the US
Author:
Publisher:
Total Pages: 31
Release: 2015
Genre:
ISBN: 9789289915809

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.

The European Labour Market

The European Labour Market
Author: Floro Ernesto Caroleo
Publisher: Springer Science & Business Media
Total Pages: 360
Release: 2006-03-14
Genre: Business & Economics
ISBN: 9783790816792

This book brings together up-to-date findings on the regional dimensions of European labour markets. It provides a conceptual and empirical study of the interactions between the European economy and its regions, paying particular attention to the issue of the transition of Central and Eastern European countries to a market economy. The topics analysed include: the structure of the shocks affecting employment (regional, industrial, national), the relationships between labour market efficiency and the regional distribution of unemployment, wage flexibility in EU member countries or in their regions and the role of active labour market policies in affecting the regional distribution of employment and unemployment.

Labour Market Adjustment in Europe During the Crisis

Labour Market Adjustment in Europe During the Crisis
Author: Theodora Kosma
Publisher:
Total Pages: 0
Release: 2022
Genre:
ISBN:

Against the backdrop of continuing adjustment in EU labour markets in response to the Great Recession and the sovereign debt crisis, the European System of Central Banks (ESCB) conducted the third wave of the Wage Dynamics Network (WDN) survey in 2014-15 as a follow-up to the two previous WDN waves carried out in 2007 and 2009. The WDN survey collected information on wagesetting practices at the firm level. This third wave sampled about 25,000 firms in 25 European countries with the aim of assessing how firms adjusted wages and employment in response to the various shocks and labour market reforms that took place in the European Union (EU) during the period 2010-13. This paper summarises the main results of WDN3 by identifying some patterns in firms' adjustments and labour market reforms. It seeks to lay out the main lessons learnt from the survey in terms of both the general response of EU labour markets to the crisis and how these responses varied across the countries that took part in the survey.