Institutions and Performance in European Labour Markets: Taking a Fresh Look at Evidence

Alfonso Arpaia () and Gilles Mourre

No 09-049.RS, Working Papers CEB from ULB -- Universite Libre de Bruxelles

Abstract: This paper presents a selective survey of the recent literature on labour market institutions and offers new empirical EU-based evidence on the impact of labour market reforms on employment and labour market adjustment. While the literature traditionally treats labour market institutions as exogenous, attention shifted recently towards understanding the underlying causes of specific institutional arrangements. As a consequence, the literature highlights the great importance of an efficient policy design exploiting these interactions wisely and identifies general principles for achieving an efficient policy design at both macro and micro levels. While empirical evidence does no show a major change in terms of intensity of labour market reform after the setting of the Economic and Monetary Union and the creation of the euro, the reforms aiming at strengthening the labour market attachment of vulnerable groups tend to have been successful both in raising their employment and increasing labour market adjustment.

Keywords: labour market functioning; political economy; endogeneity; institutions; policy design (search for similar items in EconPapers)
JEL-codes: J20 J50 J64 K31 (search for similar items in EconPapers)
Pages: 37 p.
Date: 2009
New Economics Papers: this item is included in nep-eec, nep-lab and nep-ltv
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Citations: View citations in EconPapers (11)

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Related works:
Journal Article: INSTITUTIONS AND PERFORMANCE IN EUROPEAN LABOUR MARKETS: TAKING A FRESH LOOK AT EVIDENCE (2012)
Working Paper: Institutions and performance in European labour markets: taking a fresh look at evidence (2009)
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