Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/128943
Authors: 
Aiginger, Karl
Horvath, Thomas
Mahringer, Helmut
Year of Publication: 
2011
Series/Report no.: 
WIFO Working Papers 396
Abstract: 
This paper investigates the performance of labour markets during the recent crisis for 28 industrialised countries, specifically the reaction of employment and unemployment indicators relative to output changes. We construct a composite indicator for output as well as labour market performance. The determinants of cross-country differences we chose are regulation, flexicurity elements and contracts. We find a robust positive impact of labour market regulation, while the impacts of flexicurity strategies and contracts are difficult to pin down econometrically. Finally we venture a tentative look at the ongoing recovery.
Subjects: 
financial crisis
great recession
labour market performance
labour market regulation
short-time work agreements
flexicurity
Okun's law
Document Type: 
Working Paper

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