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Wide-ranging structural reforms are underway in Italy, aimed at addressing key bottlenecks in the product and labor markets. Our analysis, based on the IMF‘s Global Integrated Monetary and Fiscal model (GIMF), attempts to quantify the potential gains to the economy from a comprehensive...
Persistent link: https://www.econbiz.de/10011142132
high standard of social security for the unemployed. It provides details of an empirical analysis of unemployment …The paper discusses the flexicurity model, its key policy elements, and association with a low unemployment rate and a …
Persistent link: https://www.econbiz.de/10011245015
Over the last 15 years, the reforms of employment protection legislation (EPL) in European countries have mainly eased … hiring and firing restrictions for temporary employment while leaving the strict EPL provisions for regular or permanent … EPL discourages both. The overall impact on equilibrium unemployment is thus ambiguous, depending on the characteristics …
Persistent link: https://www.econbiz.de/10005825839
Using panel data for 15 industrial countries, active labor market policies (ALMPs) are shown to have raised employment … variables. Among such policies, direct subsidies to job creation were the most effective. ALMPs also affected employment rates … by reducing real wages below levels allowed by technological growth, changes in the unemployment rate, and institutional …
Persistent link: https://www.econbiz.de/10005604960
labor market can coexist with a generous welfare system to achieve low unemployment. Using a panel of 19 countries over 1960 …-2002, the paper identifies the elements of the flexicurity model that may have contributed to the low unemployment rate. A … the financing aspect, the paper finds that effective implementation will depend on the initial unemployment level and …
Persistent link: https://www.econbiz.de/10005825613
Belgium has effected a remarkable fiscal adjustment, best illustrated by the decline in its public debt. While benefiting from an appreciable decline in interest rates, most of the underlying consolidation reflected a considerable increase in the tax burden, one of the highest in the...
Persistent link: https://www.econbiz.de/10005768647
growth. In 2004, growth was faster and more consumption-driven than in other large euro area countries. Employment growth in …
Persistent link: https://www.econbiz.de/10005825062
increase growth and employment are studied. From a cross-country approach, this study finds a significant relationship between …
Persistent link: https://www.econbiz.de/10011244125
with similar downturns had very different employment trends can help design policies to reduce such costs and improve labor … markets. This paper analyzes the recent employment experiences of six economies: Germany, Korea, Mexico, New Zealand, Spain …
Persistent link: https://www.econbiz.de/10011142213
's employment and productivity outcomes continue to lag behind those of its European peers. This paper reviews Italy's institutional …
Persistent link: https://www.econbiz.de/10005826596