Labour Market Institutions Product Market Regulation And Innovation
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Labour Market Institutions Product Market Regulation And Innovation
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Author :
language : en
Publisher:
Release Date : 2002
Labour Market Institutions Product Market Regulation And Innovation written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Labour Market Institutions Product Market Regulation And Innovation
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 2002
Labour Market Institutions Product Market Regulation And Innovation written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Product And Labour Market Interactions In Oecd Countries
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Author : Giuseppe Nicoletti
language : en
Publisher:
Release Date : 2002
Product And Labour Market Interactions In Oecd Countries written by Giuseppe Nicoletti and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
This paper analyses several of the cross-market effects of policies aimed at influencing outcomes in product and labour markets. Focusing on subsets of OECD countries, we look at the implications of product market competition for industry wages and overall employment, and the implications of labour market arrangements for industrial structure and innovation potential. We also look at the potential implications of regulatory reform for employment security and income inequality. We provide empirical evidence on long-run policy interactions by exploiting the cross-country and intersectoral dimensions of the data, though the analysis of employment uses also the time-series dimension.To this end, we relie on a large set of indicators of (economy-wide) labour market policies and institutions and (economy-wide, industry-specific and time-varying) product market regulations. We find that: (a) anticompetitive product market regulations have significant negative effects on non-agricultural employment rates; (b) wage premia generally increase with product market regulations that curb competition, although premia tend to revert to lower levels as market mechanisms are displaced by regulation (e.g. public monopolies); (c) the effects of employment protection policies on innovation activity are significant, with their sign and magnitude depending on industrial relations and technological regimes; (d) countries having stricter regulations tend to specialise in industries with relatively lower R&D intensity and wages; (e) labour market policies and institutional arrangements have significant unintended effects on the size distribution of firms; (f) product market liberalisation may lead to less job security in the most regulated industries, but no empirical support was found for concerns that it could result in a permanent increase in earnings inequality.
Market Institutions And Firm Behaviour
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Author : G. J. Macartney
language : en
Publisher:
Release Date : 2009
Market Institutions And Firm Behaviour written by G. J. Macartney and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
This thesis investigates the effect that market institutions have on economic outcomes such as employment and innovation. The market institutions under study are those that determine the conditions in product, labour and capital markets. Of particular interest is how the effect of institutional changes in one market depends on the conditions in another, or depends on the nature of innovation by the firm. The first chapter describes the matching of patents at the European Patent Office to firm accounts data for all registered firms across fifteen European countries. This constitutes a valuable new dataset for research in innovation that is used for much of the empirical work in this thesis. The second chapter investigates the impact of product market competition on unemployment, and how this depends on labour market institutions. It uses differential changes in regulations across OECD countries to find that increased competition reduces unemployment, more so in countries with strong unions. The third chapter investigates how the effect of product market competition on innovation depends on financial institutions. Using exogenous variation in competition in manufacturing industries this chapter finds that the positive effect of competition on innovation is larger in countries with good financial institutions. The fourth chapter investigates the effect of employment protection legislation on innovation. The theoretical effect of employment protection legislation on innovation is ambiguous, and empirical evidence is thus far inconclusive. This chapter finds that within multinational enterprises overall innovation occurs more in subsidiaries located in countries with high employment protection, however radical innovation occurs more in subsidiaries located in countries with low employment protection.
Regulation Institutions And Productivity
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Author : Balázs Égert
language : en
Publisher:
Release Date : 2017
Regulation Institutions And Productivity written by Balázs Égert and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Economics categories.
Abstract: Empirical research on the drivers of multi-factor productivity (MFP) is abundant at the firm- and industry level but surprisingly little research has been conducted on the determinants of MFP at the macroeconomic level. In this paper, we seek to understand the drivers of country-level MFP with a special emphasis on product and labour market policies and the quality of institutions. For a panel of OECD countries, we find that anticompetitive product market regulations are associated with lower MFP levels and that higher innovation intensity and greater openness go in tandem with higher MFP. We also find that the impact of product market regulations on MFP may depend on the level of labour market regulations. Better institutions, a more business friendly environment and lower barriers to trade and investment amplify the positive impact of R & D spending on MFP. Finally, we also show that cross-country MFP variations can be explained to a considerable extent by cross-country variation in labour market regulations, barriers to trade and investment and institutions (including corruption)
Challenging The Market
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Author : International Working Group on Labour Market Regulation and Deregulation
language : en
Publisher: McGill-Queen's Press - MQUP
Release Date : 2004
Challenging The Market written by International Working Group on Labour Market Regulation and Deregulation and has been published by McGill-Queen's Press - MQUP this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
For two decades economic and social policy in most of the world has been guided by the notion that economies function best when they are fully exposed to competitive market forces. In labour market policy, this approach is reflected in the widespread emphasis on flexibility - a euphemism for the retrenchment of income support and social security, the relaxation of labour market regulations, and the enhanced power of private actors to determine the terms of the employment relationship. These strategies have had marked effects on labour market outcomes, leading to greater vulnerability and polarization - and not always in ways that enhance worker-centred flexibility. The authors offer a more balanced analysis of the functioning and effects of labour market regulation and deregulation. By questioning the underpinnings of the flexibility paradigm, and revealing its often damaging impacts (on different countries, sectors, and constituencies), they challenge the conclusion that unregulated market forces produce optimal labour market outcomes. The authors conclude with several suggestions for how labour policy could be reformulated to promote both efficiency and equity.
Regulation And Labour Market Performance
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Author : Tito Boeri
language : en
Publisher:
Release Date : 2008
Regulation And Labour Market Performance written by Tito Boeri and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
The increasing literature on the interactions between liberalisation-integration of product markets and labour market reforms is often highly speculative and draws on a rather weak empirical basis.Cross-country indicators of regulatory frameworks are often lacking, making it difficult to identify the linkages with observed outcomes in the labour and product markets. Moreover, empirical studies have often focused exclusively on the impact of certain labour market regulations, largely ignoring the role of product market regulations and the interactions between regulatory interventions in the two markets. As a result, while there are convincing theoretical arguments pointing to a potentially positive effect of product market liberalisation on labour market performance, empirical investigations of this issue are lacking. This paper aims at providing some preliminary evidence on these issues. In particular, the cross-country patterns and changing profile of product and labour market regulations are identified. Evidence on the relationships between product and labour market regulations is discussed in the context of other policies and institutional factors affecting the labour market, and the clustering and convergence of institutions across countries are characterised. More importantly, the paper reports evidence of a potentially significant impact of product and labour market regulations on employment and its composition. The evidence presented draws heavily on a novel set of cross-country indicators of regulation in the product and labour markets assembled at the OECD. It should be stressed at the outset that these indicators are preliminary estimates and should be taken only as rough approximations of the regulatory stance across OECD countries.
Labour Market Regulation And Business Entry
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Author : Tanja Kosi
language : en
Publisher:
Release Date : 2013
Labour Market Regulation And Business Entry written by Tanja Kosi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Regulation of labour markets is often viewed as being hostile to entrepreneurship. Several studies investigate the effects of labour market institutions on entrepreneurship in terms of self-employment but there is a relatively small number of international studies relating labour market institutions to business creation. This paper empirically investigates the impact of labour market institutions (the bargaining power of trade unions, unemployment benefits and labour income taxation) on business entry in chosen OECD countries over the period 1995-2007. To take into account a specific structure of time-series cross-section data, the regression equation that explains business entry is estimated by two alternative approaches: the feasible generalized least squares approach proposed by Parks (1967) and the panel corrected standard errors approach proposed by Beck and Katz (1995). The regression analysis gives mixed results about the impact of union bargaining power, unemployment benefits and labour income taxation on business entry. The business entry rate is negatively associated with obstacles to getting a credit and the size of country's population, but positively associated with trade openness.
Market Regulation Cycles And Growth In A Monetary Union
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Author : Mirko Abbritti
language : en
Publisher: International Monetary Fund
Release Date : 2019-06-03
Market Regulation Cycles And Growth In A Monetary Union written by Mirko Abbritti and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-03 with Business & Economics categories.
We build a two-country currency union DSGE model with endogenous growth to assess the role of cross-country differences in product and labor market regulations for long-term growth and for the adjustment to shocks. We show that with endogenous growth, there is no reason to expect real income convergence. Large shocks, through endogenous TFP movements, can lead to permanent changes of output and real exchange rates. Differences are exacerbated when member countries have different product and labor market regulations. Less regulated economies are likely to have higher trend growth and recover faster from negative shocks. Results are consistent with higher inflation, lower employment and disappointing TFP growth rates experienced in the less reform-friendly euro area members.
Productivity And Convergence In A Panel Of Oecd Industries
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Author : Stefano Scarpetta
language : en
Publisher:
Release Date : 2015
Productivity And Convergence In A Panel Of Oecd Industries written by Stefano Scarpetta and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
We analyse the impact of innovation activity and product and labour market institutions on multi-factor productivity in a panel of 23 industries in 18 OECD countries using a novel harmonised database. First, we provide evidence of convergence in productivity levels within most industries across OECD countries. Convergence is however stronger in services than in manufacturing and, in the latter sector, it is weaker for high-tech industries. We also find evidence that the impact of innovation activity (proxied by R&D expenditure) on productivity depends on market structure and technological characteristics, with a stronger impact for technological leaders in high-tech industries. In addition, anti-competitive product market regulations are negatively associated with productivity performance. The negative effect is larger the further a country is from the technological frontier, because such regulations hinder the process of technology adoption. Finally, there is also evidence in the data of a negative impact of tight employment protection legislation on productivity when wages or internal training do not offset the higher adjustment costs associated with high firing costs.