Do labour market reforms reduce labour productivity growth?: A panel data analysis of 20 OECD countries (1960 - 2004)
Based on comprehensive regression analysis, the authors find that weak wage growth and a smaller labour share of national income significantly reduce labour productivity growth. They conclude that supply‐side labour market reforms have contributed to reducing labour productivity growth: this cannot...
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| Veröffentlicht in: | International labour review 2014-09, Vol.153 (3), p.365-393 |
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| creator | Vergeer, Robert Kleinknecht, Alfred |
| description | Based on comprehensive regression analysis, the authors find that weak wage growth and a smaller labour share of national income significantly reduce labour productivity growth. They conclude that supply‐side labour market reforms have contributed to reducing labour productivity growth: this cannot be explained by a deregulation‐induced inflow of low‐productivity labour as proposed by OECD researchers. They also discuss why deregulation, easier firing and higher labour turnover may damage learning and knowledge accumulation in companies, notably by weakening the functioning of the “routinized” innovation model (“Schumpeter II”). Finally, their findings raise doubts about the relevance of Baumol's law and Verdoorn's law. |
| doi_str_mv | 10.1111/j.1564-913X.2014.00209.x |
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They conclude that supply‐side labour market reforms have contributed to reducing labour productivity growth: this cannot be explained by a deregulation‐induced inflow of low‐productivity labour as proposed by OECD researchers. They also discuss why deregulation, easier firing and higher labour turnover may damage learning and knowledge accumulation in companies, notably by weakening the functioning of the “routinized” innovation model (“Schumpeter II”). Finally, their findings raise doubts about the relevance of Baumol's law and Verdoorn's law.</abstract><cop>Geneva</cop><pub>Blackwell Publishing Ltd</pub><doi>10.1111/j.1564-913X.2014.00209.x</doi></addata></record> |
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| subjects | Arbeitsmarktpolitik Arbeitsproduktivität Australien Auswirkung Bargaining Belgien Betriebliche Weiterbildung Cost control Data Analysis Deregulierung Deutschland Dänemark Employment Evidence Finnland Flexibility Frankreich Großbritannien Impact analysis Individual Characteristics Innovation Innovations Innovationsfähigkeit International Internationaler Vergleich Irland Italien Japan Kanada Kündigungsschutz Labor market Labor unions Labour market Labour productivity Lohnentwicklung Lohnflexibilität Lohnpolitik low income National income Neuseeland Niederlande Norwegen OECD OECD (Organisation für wirtschaftliche Zusammenarbeit und Entwicklung) OECD countries Portugal Productivity Productivity growth Produktivitätseffekt Produktivitätsentwicklung Reformpolitik Reforms Regression analysis Schweden Schweiz Spanien Studies Tarifverhandlung Technological change Unemployment Unions USA Wage theory Wages Wages & salaries Österreich |
| title | Do labour market reforms reduce labour productivity growth?: A panel data analysis of 20 OECD countries (1960 - 2004) |
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