Regular ArticleUnemployment and Labor Market Institutions: An Empirical Analysis☆
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From wage rigidity to labour market institution rigidity: A turning-point in explaining unemployment?
2012, Journal of Socio-EconomicsCitation Excerpt :Thus in the end the final result may well be less, rather than more, labour market flexibility as a whole. Belot and van Ours (2001) deal with the issue of labour market institution complementarity, pointing out that the institutional framework of a country is not a set of independent elements (see also Freeman, 1988). Specifically, they first build a theoretical model in which institutional complementarities are derived, thereafter presenting an empirical investigation using data from 18 OECD countries covering the period from the beginning of the 1960s to the mid ‘90s.
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The authors thank Shin'ichi Fukuda, Yuji Genda, and other participants of the December 2000 NBER-CEPR-TCER conference in Tokyo for stimulating comments. They also thank David Blanchflower and Andrew Oswald for making their data on home ownership rates available.
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