Coverart for item
The Resource Product market regulation and the benefits of wage moderation, prepared by Marcello M. Esteva̋o

Product market regulation and the benefits of wage moderation, prepared by Marcello M. Esteva̋o

Label
Product market regulation and the benefits of wage moderation
Title
Product market regulation and the benefits of wage moderation
Statement of responsibility
prepared by Marcello M. Esteva̋o
Creator
Contributor
Author
Issuing body
Subject
Genre
Language
eng
Summary
Euro-area real wages have decelerated sharply in the last 20 years, but this has not yet translated into visibly lower unemployment or faster growth. Weak output growth after such a cost shock is somewhat puzzling and has led some to question the benefits of wage moderation. By isolating structural from cyclical factors in a panel of industrial countries, I show that structurally slower real wage growth, that is, "wage moderation," does raise output growth and lower unemployment rates. However, I show that the impact on both variables depends crucially on product market regulation: weaker competition and barriers to entry mute the growth effects of structural real wage changes by allowing incumbent firms to appropriate larger rents. In this context, overly regulated product markets in the euro area are undermining the effects of labor market reforms on output and employment
Member of
Cataloging source
E7B
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Estevão, Marcello M
Government publication
international or intergovernmental publication
Illustrations
illustrations
Index
no index present
Language note
English
LC call number
HD87
LC item number
.E88 2005 ONLINE
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
International Monetary Fund
Series statement
IMF Working Paper
Series volume
WP/05/191
http://library.link/vocab/subjectName
  • Labor market
  • Structural adjustment (Economic policy)
  • Wages
  • Labor market
  • Structural adjustment (Economic policy)
  • Wages
Label
Product market regulation and the benefits of wage moderation, prepared by Marcello M. Esteva̋o
Instantiates
Publication
Bibliography note
Includes bibliographical references (pages 28-29)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Contents -- I. INTRODUCTION -- II. LABOR COST CHANGES AND ECONOMIC PERFORMANCE IN THE RAW DATA -- III. WAGE- SETTING BEHAVIOR AND ECONOMIC PERFORMANCE -- IV. MEASURING THE BENEFITS OF WAGE MODERATION -- V. CONCLUSIONS AND FINAL REMARKS -- THE OECD PRODUCT MARKET REGULATION DATA -- References
Control code
680614500
Dimensions
unknown
Extent
1 online resource (29 pages)
Form of item
online
Isbn
9786613823502
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
illustrations
Specific material designation
remote
System control number
(OCoLC)680614500
Label
Product market regulation and the benefits of wage moderation, prepared by Marcello M. Esteva̋o
Publication
Bibliography note
Includes bibliographical references (pages 28-29)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Contents -- I. INTRODUCTION -- II. LABOR COST CHANGES AND ECONOMIC PERFORMANCE IN THE RAW DATA -- III. WAGE- SETTING BEHAVIOR AND ECONOMIC PERFORMANCE -- IV. MEASURING THE BENEFITS OF WAGE MODERATION -- V. CONCLUSIONS AND FINAL REMARKS -- THE OECD PRODUCT MARKET REGULATION DATA -- References
Control code
680614500
Dimensions
unknown
Extent
1 online resource (29 pages)
Form of item
online
Isbn
9786613823502
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
illustrations
Specific material designation
remote
System control number
(OCoLC)680614500

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