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The aim of this paper is to provide new estimates of employment-output elasticities and assess the effect of structural and macroeocnomic policies on the employment-intensity of growth. Using an unbalanced panel of 167 countries over the period 1991 - 2009, the results suggest that structural policies aimed at increasing labor and product market flexibility and reducing government size have a significant and positive impact on employment elasticities. In addition, the results also suggest that in order to maximize the positive impact on the responsiveness of employment to economic activity, structural policies have to be complemented with macroeconomic policies aimed at increasing macroeconomic stability.

The Way Forward

European Commission. Directorate-General for Employment, Industrial Relations, and Social Affairs. Employment and Labour Market

Published: 1997

Total Pages: 116


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Economic development has cyclical dynamics and long-term dynamics – the latter are typically related to demographical changes, innovation and long-term insti- tional changes in open economies. Financial markets – that means mainly capital markets – and labor markets are affected in OECD countries both by innovations and institutional reforms. As regards demographics ageing is a typical challenge on both sides of the Atlantic, and pension reforms in industrialized countries have placed greater emphasis on capital markets than in previous decades. Innovation dynamics certainly are also quite important for all high wage OECD countries. The Lisbon Agenda has put particular emphasis on more growth, higher innovation dynamics and better exploitation of the advantages of a digitally networked society. Traditionally, the US has a lead in global innovations, and the US policy certainly has contributed to the American technological leadership. There still is a per capita income gap in favor of the US and the US labor market situation also looks relatively favorable, but in the ?ve years since 2001 employment growth in the euro area was higher than that of the US. The euro area is, however, a rather heterogeneous set of countries which differ in terms of institutions, attitudes and reform progress – and everywhere governments are aware that there have to be reforms, not least in the context of globalization which bring a more complex and dynamic spatial structure of value-added.
This innovative study reviews the remarkable economic and labor market recovery made by four small European countries: Austria, Denmark, Ireland, and the Netherlands. It analyzes their success and highlights the specific factors responsible, in particular the promotion of social dialogue and the institution of critical macroeconomic and labor market policies. While assessing the progress and examining the remaining problems in these four countries, the book compares their progress with that of other European Union countries and examines how similar policies and action could help combat unemployment and make progress towards full employment. The study presents a detailed comparative analysis of the labor markets of the four countries. It analyzes employment and unemployment developments in detail, covering gender gaps, the sectoral distribution of employment, and the shares of people which are dependent on social transfers. It shows the employment intensity of economic growth and gives readers a substantial, broad overview of the economic and labor market situation in each country. Finally, the book makes relevant policy recommendations for promoting further growth and social progress in these countries, as well as others across Europe.
Economists from Europe, the US, and Japan are the authors of these 16 papers offering economic analysis of the impact of the information revolution on European employment trends. Individual topics include a comparative study of growth and employment with regard to information technology, the role of manufacturing in the economic growth of developed and developing countries, deindustrialization in continental Europe in the 1980s and 1990s, organizational changes caused by the technological evolution, and changes in patterns of working time in Europe since 1965. Petit (CEPREMAP, Paris) and Soete (Maastricht U., the Netherlands) contribute three of the papers and an introduction. c. Book News Inc.
"It will be of particular interest to researchers and policy makers working in the fields of competitiveness and growth in the context of economic and monetary integration as well as to academics of European studies in general."--BOOK JACKET.
This study looks primarily at macroeconomic policy, a necessary framework for every labour market, which does much to determine overall employment and unemployment levels. Drawing on the experience of four small European economies, four important policy areas are analyzed in terms of their potential contribution to employment success: macroeconomics, industrial relations, working time and equal opportunities.
Part A of this publication (the White Paper) deals with ways to deal with the problem of unemployment. Part B deals with the conditions of growth, competitiveness and more jobs.