| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1612 |
| DP1612 Debt and Deficit Ceilings, and Sustainability of Fiscal Policies: An Intertemporal Analysis | |
| Michael R. Wickens; Merih Uctum | |
| 发表日期 | 1997-03-27 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | In this paper we argue that employment protection legislation is more likely to arise when the rents earned by the employed over their alternative wage is greater. The model explains why economies with greater real wage rigidity also have greater employment protection. The model also predicts that lower turnover increases the political support for employment protection and that this political support is greater when employment protection is more harmful for employment. Also, rigidities are persistent as they create a constituency of low-productivity sectors whose workers would oppose the removal of firing costs, even though existing rents would not generate support for introducing them. We argue that tight labour markets due to post-war reconstruction needs in Europe made it easier for insiders to create such rents, which in turn led them to support employment protection legislation. In the late 1970s, rents started to fall but reforms proved difficult because of ratchet effects. |
| 主题 | International Macroeconomics |
| 关键词 | Employment protection European labour markets Political economy Rigidities Unemployment |
| URL | https://cepr.org/publications/dp1612 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530750 |
| 推荐引用方式 GB/T 7714 | Michael R. Wickens,Merih Uctum. DP1612 Debt and Deficit Ceilings, and Sustainability of Fiscal Policies: An Intertemporal Analysis. 1997. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
