The Employment Effects of Labor and Product Market Deregulation and Their Implications for Structural Reform
| Autor: | Stephan Danninger, Helge Berger |
|---|---|
| Rok vydání: | 2007 |
| Předmět: |
Economics and Econometrics
Labour economics Product market Beschäftigungseffekt Market regulation Product market regulation jel:E24 labor market regulation Deregulation Accounting ddc:330 Economics J50 L51 Product market regulation labor market regulation employment growth policy coordination sequencing product market regulation labor market regulation employment growth policy coordination sequencing product market regulation health care economics and organizations Market deregulation Deregulierung Theorie der Regulierung employment growth Employment growth jel:J50 sequencing jel:L51 policy coordination Product (business) E24 300 Sozialwissenschaften::330 Wirtschaft Capital market International monetary fund Theorie Finance |
| Zdroj: | BASE-Bielefeld Academic Search Engine |
| Popis: | This study explores the effects of labor and product market deregulation on employment growth. Our empirical results, based on an OECD country panel from 1990-2004, suggest that lower levels of product and labor market regulation foster employment growth, including through sizable interaction effects. Based on these findings, the paper develops a theoretical framework for evaluating deregulation strategies in the presence of reform costs. Optimal deregulation takes various forms depending on the deregulation costs and the strength of reform interactions. Compared to the first best, decentralized decision-making based on a partial market-by-market perspective can lead to excessive or insufficient regulation, depending on the design of the decision process. Securing the first best requires not only coordinating deregulation activities across sectors but also overcoming the partial perspective of decision makers. |
| Databáze: | OpenAIRE |
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