Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/153439
Authors: 
Rumler, Fabio
Scharler, Johann
Year of Publication: 
2009
Series/Report no.: 
ECB Working Paper 1005
Abstract: 
In this paper we analyze empirically how labor market institutions influence business cycle volatility in a sample of 20 OECD countries. Our results suggest that countries characterized by high union density tend to experience more volatile movements in output, whereas the degree of coordination of the wage bargaining system and strictness of employment protection legislation appear to play a limited role for output volatility. We also find some evidence suggesting that highly coordinated wage bargaining systems have a dampening impact on inflation volatility.
Subjects: 
business cycles
inflation
labor market institutions
JEL: 
E31
E32
Document Type: 
Working Paper

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