Please use this identifier to cite or link to this item:
Aiginger, Karl
Horvath, Thomas
Mahringer, Helmut
Year of Publication: 
Series/Report no.: 
WIFO Working Papers 396
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.
financial crisis
great recession
labour market performance
labour market regulation
short-time work agreements
Okun's law
Document Type: 
Working Paper

Files in This Item:
402.8 kB

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.