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dc.contributor.authorGNOCCHI, Stefano
dc.contributor.authorLAGERBORG, Andresa 
dc.contributor.authorPAPPA, Evi
dc.date.accessioned2016-02-16T10:54:45Z
dc.date.available2016-02-16T10:54:45Z
dc.date.issued2015
dc.identifier.citationJournal of economic dynamics and control, 2015, Vol. 51, pp. 299-317en
dc.identifier.issn1879-1743
dc.identifier.issn0165-1889
dc.identifier.urihttp://hdl.handle.net/1814/39018
dc.descriptionAvailable online 4 November 2014.en
dc.description.abstractUsing panel data of 19 OECD countries observed over 40 years and data on specific labor market reform episodes we conclude that labor market institutions matter for business cycle fluctuations. Spearman partial rank correlations reveal that more flexible institutions are associated with lower business cycle volatility. Turning to the analysis of reform episodes, wage bargaining reforms increase the correlation of the real wage with labor productivity and the volatility of unemployment. Employment protection reforms increase the volatility of employment and decrease the correlation of the real wage with labor productivity. Reforms reducing replacement rates make labor productivity more procyclical.en
dc.language.isoenen
dc.relation.ispartofJournal of economic dynamics and controlen
dc.titleDo labor market institutions matter for business cycles?en
dc.typeArticleen
dc.identifier.doi10.1016/j.jedc.2014.10.005
dc.identifier.volume51en
dc.identifier.startpage299en
dc.identifier.endpage317en


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