The Roles of Openness and Labor Market Institutions for Employment Dynamics during Economic Crises
Employment effects of the recent global economic crisis have differed significantly across countries. An active public debate currently focuses on external shocks and the role of labor market policies as a driver of those differences. In this note,...
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2010/09/12721305/roles-openness-labor-market-institutions-employment-dynamics-during-economic-crises http://hdl.handle.net/10986/10155 |
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okr-10986-101552021-04-23T14:02:49Z The Roles of Openness and Labor Market Institutions for Employment Dynamics during Economic Crises Gamberoni, Elisa Uexkull, Erik Von Weber, Sebastian ACTIVE LABOR ACTIVE LABOR MARKET ACTIVE LABOR MARKET POLICIES ADJUSTMENT PROCESS AGGREGATE FLUCTUATIONS AVERAGE GROWTH AVERAGE GROWTH RATE BANKING CRISIS DEBT CRISES DEBT CRISIS DEVELOPMENT INDICATORS DYNAMIC PANEL ECONOMIC CRISES ECONOMIC DOWNTURNS ECONOMIC POLICY ECONOMIC SLOWDOWN ECONOMIC STUDIES ECONOMICS EMPLOYMENT EMPLOYMENT DYNAMICS EMPLOYMENT EFFECT EMPLOYMENT EFFECTS EMPLOYMENT EQUATIONS EMPLOYMENT GROWTH EMPLOYMENT TRENDS EXTERNAL SHOCKS FINANCIAL CRISES FIXED EFFECTS GLOBAL ECONOMY GROWTH RATES HIGH UNEMPLOYMENT INCOME INFORMAL EMPLOYMENT INTERNATIONAL LABOUR OFFICE INTERNATIONAL TRADE JOB LOSS LABOR MARKET LABOR MARKET INSTITUTIONS LABOR MARKET POLICIES LABOR MARKET POLICY LABOR MARKETS LABOUR LABOUR OFFICE LAGGED VALUE LAYOFFS LONG-RUN EMPLOYMENT LOW UNEMPLOYMENT MACROECONOMIC POLICIES MODERATE UNEMPLOYMENT NEGATIVE IMPACT POLICY RESEARCH POOR COUNTRIES POVERTY REDUCTION REAL WAGE REAL WAGES SAFETY SAFETY NET SEVERANCE PAY SLOWDOWNS STANDARD DEVIATION TRADE OPENNESS UNEMPLOYED UNEMPLOYMENT BENEFITS UNEMPLOYMENT RATE WAGE RIGIDITY WORKERS WORKING CONDITIONS Employment effects of the recent global economic crisis have differed significantly across countries. An active public debate currently focuses on external shocks and the role of labor market policies as a driver of those differences. In this note, the authors analyze the roles of integration into the global economy and different labor market institutions during different phases of past global economic downturns and domestic banking and debt crises. The authors find that domestic debt and banking crises were much more severe in their impact on employment than were global economic downturns: on average, the reduction in employment growth was more than twice as strong. The authors also find that openness to trade has both deepened the contractionary effects on employment and allowed for a faster recovery. High severance pay dampened the employment effect in both domestic crises and global economic downturns, whereas very high unemployment benefits were associated with stronger reductions in employment growth. 2012-08-13T10:34:44Z 2012-08-13T10:34:44Z 2010-09 http://documents.worldbank.org/curated/en/2010/09/12721305/roles-openness-labor-market-institutions-employment-dynamics-during-economic-crises http://hdl.handle.net/10986/10155 English Economic Premise; No. 29 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACTIVE LABOR ACTIVE LABOR MARKET ACTIVE LABOR MARKET POLICIES ADJUSTMENT PROCESS AGGREGATE FLUCTUATIONS AVERAGE GROWTH AVERAGE GROWTH RATE BANKING CRISIS DEBT CRISES DEBT CRISIS DEVELOPMENT INDICATORS DYNAMIC PANEL ECONOMIC CRISES ECONOMIC DOWNTURNS ECONOMIC POLICY ECONOMIC SLOWDOWN ECONOMIC STUDIES ECONOMICS EMPLOYMENT EMPLOYMENT DYNAMICS EMPLOYMENT EFFECT EMPLOYMENT EFFECTS EMPLOYMENT EQUATIONS EMPLOYMENT GROWTH EMPLOYMENT TRENDS EXTERNAL SHOCKS FINANCIAL CRISES FIXED EFFECTS GLOBAL ECONOMY GROWTH RATES HIGH UNEMPLOYMENT INCOME INFORMAL EMPLOYMENT INTERNATIONAL LABOUR OFFICE INTERNATIONAL TRADE JOB LOSS LABOR MARKET LABOR MARKET INSTITUTIONS LABOR MARKET POLICIES LABOR MARKET POLICY LABOR MARKETS LABOUR LABOUR OFFICE LAGGED VALUE LAYOFFS LONG-RUN EMPLOYMENT LOW UNEMPLOYMENT MACROECONOMIC POLICIES MODERATE UNEMPLOYMENT NEGATIVE IMPACT POLICY RESEARCH POOR COUNTRIES POVERTY REDUCTION REAL WAGE REAL WAGES SAFETY SAFETY NET SEVERANCE PAY SLOWDOWNS STANDARD DEVIATION TRADE OPENNESS UNEMPLOYED UNEMPLOYMENT BENEFITS UNEMPLOYMENT RATE WAGE RIGIDITY WORKERS WORKING CONDITIONS |
| spellingShingle |
ACTIVE LABOR ACTIVE LABOR MARKET ACTIVE LABOR MARKET POLICIES ADJUSTMENT PROCESS AGGREGATE FLUCTUATIONS AVERAGE GROWTH AVERAGE GROWTH RATE BANKING CRISIS DEBT CRISES DEBT CRISIS DEVELOPMENT INDICATORS DYNAMIC PANEL ECONOMIC CRISES ECONOMIC DOWNTURNS ECONOMIC POLICY ECONOMIC SLOWDOWN ECONOMIC STUDIES ECONOMICS EMPLOYMENT EMPLOYMENT DYNAMICS EMPLOYMENT EFFECT EMPLOYMENT EFFECTS EMPLOYMENT EQUATIONS EMPLOYMENT GROWTH EMPLOYMENT TRENDS EXTERNAL SHOCKS FINANCIAL CRISES FIXED EFFECTS GLOBAL ECONOMY GROWTH RATES HIGH UNEMPLOYMENT INCOME INFORMAL EMPLOYMENT INTERNATIONAL LABOUR OFFICE INTERNATIONAL TRADE JOB LOSS LABOR MARKET LABOR MARKET INSTITUTIONS LABOR MARKET POLICIES LABOR MARKET POLICY LABOR MARKETS LABOUR LABOUR OFFICE LAGGED VALUE LAYOFFS LONG-RUN EMPLOYMENT LOW UNEMPLOYMENT MACROECONOMIC POLICIES MODERATE UNEMPLOYMENT NEGATIVE IMPACT POLICY RESEARCH POOR COUNTRIES POVERTY REDUCTION REAL WAGE REAL WAGES SAFETY SAFETY NET SEVERANCE PAY SLOWDOWNS STANDARD DEVIATION TRADE OPENNESS UNEMPLOYED UNEMPLOYMENT BENEFITS UNEMPLOYMENT RATE WAGE RIGIDITY WORKERS WORKING CONDITIONS Gamberoni, Elisa Uexkull, Erik Von Weber, Sebastian The Roles of Openness and Labor Market Institutions for Employment Dynamics during Economic Crises |
| relation |
Economic Premise; No. 29 |
| description |
Employment effects of the recent global
economic crisis have differed significantly across
countries. An active public debate currently focuses on
external shocks and the role of labor market policies as a
driver of those differences. In this note, the authors
analyze the roles of integration into the global economy and
different labor market institutions during different phases
of past global economic downturns and domestic banking and
debt crises. The authors find that domestic debt and banking
crises were much more severe in their impact on employment
than were global economic downturns: on average, the
reduction in employment growth was more than twice as
strong. The authors also find that openness to trade has
both deepened the contractionary effects on employment and
allowed for a faster recovery. High severance pay dampened
the employment effect in both domestic crises and global
economic downturns, whereas very high unemployment benefits
were associated with stronger reductions in employment growth. |
| format |
Publications & Research :: Brief |
| author |
Gamberoni, Elisa Uexkull, Erik Von Weber, Sebastian |
| author_facet |
Gamberoni, Elisa Uexkull, Erik Von Weber, Sebastian |
| author_sort |
Gamberoni, Elisa |
| title |
The Roles of Openness and Labor Market Institutions for Employment Dynamics during Economic Crises |
| title_short |
The Roles of Openness and Labor Market Institutions for Employment Dynamics during Economic Crises |
| title_full |
The Roles of Openness and Labor Market Institutions for Employment Dynamics during Economic Crises |
| title_fullStr |
The Roles of Openness and Labor Market Institutions for Employment Dynamics during Economic Crises |
| title_full_unstemmed |
The Roles of Openness and Labor Market Institutions for Employment Dynamics during Economic Crises |
| title_sort |
roles of openness and labor market institutions for employment dynamics during economic crises |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2010/09/12721305/roles-openness-labor-market-institutions-employment-dynamics-during-economic-crises http://hdl.handle.net/10986/10155 |
| _version_ |
1764412052598685696 |