Download or read book The Spanish Labor Market in a Cross Country Perspective written by Ms.Florence Jaumotte and published by International Monetary Fund. This book was released on 2011-01-01 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Spanish labor market is not working: the unemployment rate is structurally very high; wages are not very responsive to labor market conditions, causing a high cyclicality of unemployment; and the labor market is highly dual. Compared with the EU15, Spanish labor market institutions and policies stand out by the structure of its collective bargaining, which occurs mostly at an intermediate level, and by very high severance payments for permanent workers. Based on a quantitative analysis, the paper shows that moving away from the intermediate level of bargaining would go a long way toward bringing the unemployment rate closer to the EU15 average. The key reform needed to reduce the share of temporary workers is reducing employment protection of permanent workers. Substantially reforming the collective bargaining system and reducing the protection of permanent workers are likely to be highly complementary to secure a substantial reduction in the unemployment rate. The recent 2010 labor market reform attempts to address these issues, although its effects are still to materialize.

Download or read book Adjustment in Euro Area Deficit Countries written by Mr.Thierry Tressel and published by International Monetary Fund. This book was released on 2014-07-14 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Imbalances within the euro area have been a defining feature of the crisis. This paper provides a critical analysis of the ongoing rebalancing of euro area “deficit economies” (Greece, Ireland, Portugal, and Spain) that accumulated large current account deficits and external liability positions in the run-up to the crisis. It shows that relative price adjustments have been proceeding gradually. Real effective exchange rates have depreciated by 10-25 percent, driven largely by reductions in unit labor costs due to labor shedding. While exports have typically rebounded, subdued demand accounts for much of the reduction in current account deficits. Hence, the current account balance of the euro area as a whole has shifted into surplus. Internal rebalancing has come with subdued activity—notably very high unemployment in the deficit economies—and made continued adjustment more difficult. To advance rebalancing further, the paper emphasizes the need for: (1) macroeconomic policies that support demand and bring inflation in line with the ECB’s medium-term price stability objective; (2) continued EMU reforms (banking union) to ensure proper financial intermediation; and (3) structural reforms in product and labor markets to improve productivity and support the reallocation of resources to tradable sectors.

Download or read book Regional Economic Outlook October 2011 Europe written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2011-10-05 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following a strong showing in early 2011, the economies across Europe now face the prospect of a pronounced slowdown, as global growth has softened, risk aversion has risen, and strains in Europe's sovereign debt and financial markets have deepened, according to this issue of the Regional Economic Outlook for Europe. Downside risks are significant, and a further deepening of the euro area crisis would affect not only advanced Europe, but also emerging Europe, given its tight economic and financial ties. The policy stance in advanced Europe will need to be adapted to reflect the weakening and tense outlook, financial systems strengthened further, and a consistent, cohesive and cooperative approach to monetary union adopted by all euro area stakeholders. The cross-country experience in the past decade in Europe shows the difference that good policies can make in boosting growth, with some European countries having grown rapidly while others have stagnated. Escaping low-growth traps, through broad-based reforms that address macroeconomic imbalances and country-specific structural rigidities, is possible.

Download or read book The Path to Higher Growth written by Ms.Chie Aoyagi and published by International Monetary Fund. This book was released on 2013-10-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper argues that Japan’s excessive labor market duality can reduce Total Factor Productivity (TFP) due to a negative impact on non-regular workers’ effort and on firms’ incentives to train them. On the basis of cross-country empirical evidence, the paper proposes some reform options. In particular, our analysis suggests that reducing the difference in employment protection between regular and non-regular workers would substantially reduce labor market duality in Japan. One reform consistent with these findings is the introduction of a Single Open Ended Contract for all newly hired workers. This reform could be complemented by a shift towards a model that combines labor market flexibility and security (“flexicurity”) and by policies aimed at encouraging wage growth.

Download or read book The Euro Experiment written by Paul Wallace and published by Cambridge University Press. This book was released on 2016 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: A clear, analytical and balanced guide to the euro experiment and subsequent crisis that will appeal to a wide readership.

Download or read book Employment and the Great Recession written by Mr.Bas B. Bakker and published by International Monetary Fund. This book was released on 2015-10-28 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper argues that the sharp increase in unemployment in a number of advanced countries during the Great Recession was not just cyclical (the result of a lack of aggregate demand); the degree of adjustment of real wages and the impact this had on labor productivity also played a role. In many countries, post-2007 employment losses were modest, as real wages adjusted when the economy slowed down. But in some countries real wage growth stayed too high for too long. The result was large-scale labor shedding, which boosted labor productivity but also contributed to a sharp rise in unemployment. In this context, the paper discusses the different experiences of the UK (where employment increased) and Spain (where it fell sharply), and finds that almost two thirds of the employment losses in Spain resulted from the failure of real wages to adjust adequately.

Download or read book Regional Economic Outlook October 2010 Europe Building Confidence written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2010-10-20 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recovery in Europe continues, supported by strong policy action to contain sovereign debt problems in the euro area. In advanced Europe, lingering uncertainties and market pressures make for moderate and unequal growth, creating challenges for macroeconomic and financial sector policies. The REO also sheds light on the governance issues revealed by the crisis, arguing that better policy frameworks, in particular at the euro area level, promise a stronger Europe. For the first time, the REO devotes a separate chapter to the outlook for emerging Europe, where, after a deep recession, an export-led recovery is under way. However, the rebound is uneven across the region, and policymakers face the difficult challenge of dealing with the legacies of the crisis, while not hurting the recovery. Beyond the short term, the REO argues that the region will need to find new growth engines, as the capital inflows-driven and credit-fueled domestic demand boom needs to give way to more balanced growth. Indeed, the REO emphasizes that active fiscal policy and coordinated prudential measures are key to avoiding a repeat of the boom-bust cycle the region has just endured.

Download or read book Regional Labor Mobility in Spain written by Lucy Qian Liu and published by International Monetary Fund. This book was released on 2018-12-13 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the main factors that explain the low regional mobility in Spain, with a view to identifying policy options at the regional and central level to promote labor mobility. The empirical analysis finds that house prices, labor market conditions, and the pervasiveness of labor market duality at the regional level are the main determinants for Spain’s regional mobility, while labor market institutions and policies play an important role at the national level. Policies that facilitate wage setting flexibility and reduce labor market duality could help enhance the functioning of the labor market, thereby promoting labor mobility. There may be also room for policies to incentivize people to move and provide support through targeted active labor market policies.

Download or read book Spain written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-07-30 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spain’s economy is facing severe challenges. Financial market tensions increased sharply in the wake of the Greek crisis. Policy should focus on rebalancing of the economy and securing market confidence. Ambitious fiscal consolidation is under way, but achievement of the targets needs to be made more credible and complemented by bold pension reform. A radical overhaul of the labor market is urgent. Progress in recent years on product and service market reform should continue. The banking sector remains sound but is under pressure.

Download or read book Republic of Serbia written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2013-07-15 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper on Serbia’s Article IV Consultation reviews the precrisis growth paradigm and its legacy vulnerabilities. The underlying growth model proved vulnerable to shocks, being associated with a high share of nontradable, low domestic savings, and a fragile external position. Convergence to EU income levels was relatively moderate. Economic growth fell following the onset of the global financial crisis and further slowed the pace of convergence. Serbia’s postcrisis income gap remains larger by comparison to more advanced regional economies. Structural bottlenecks continue to undermine overall competitiveness and constrain growth potential.

Download or read book Women Work and Economic Growth written by Ms.Kalpana Kochhar and published by International Monetary Fund. This book was released on 2017-02-15 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: Women make up a little over half of the world’s population, but their contribution to measured economic activity and growth is far below its potential. Despite significant progress in recent decades, labor markets across the world remain divided along gender lines, and progress toward gender equality seems to have stalled. The challenges of growth, job creation, and inclusion are closely intertwined. This volume brings together key research by IMF economists on issues related to gender and macroeconomics. In addition to providing policy prescriptions and case studies from IMF member countries, the chapters also look at the gender gap from an economic point of view.

Download or read book Perspectives on Women in Management and the Global Labor Market written by Vieira, Elisabete S. and published by IGI Global. This book was released on 2023-04-17 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: As more women achieve management positions across the world, it is essential to understand women’s roles in management in different countries and economies as well as their relationships to the global market and the gender effect on management. Women’s leadership and the challenges that they face look very different globally. It is important to research the role of women in management in order to strengthen equality and efficiency. Perspectives on Women in Management and the Global Labor Market provides a clear idea of the effect of gender on the management decision-making process and the respective consequences, showing similarities and striking differences in the practices of different countries and economies. This book serves as a compilation of ideas in the new trends associated with the presence of women in management and the global labor market. Covering topics such as firm debt maturity, change management, and wage inequality, this premier reference source is an excellent resource for business managers and leaders, human resource managers, entrepreneurs, government officials, sociologists, students and educators of higher education, librarians, researchers, and academicians.

Download or read book Fostering Growth in Europe Now written by Ms.Bergljot Barkbu and published by International Monetary Fund. This book was released on 2012-06-18 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

Download or read book IMF Research Bulletin December 2013 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2013-12-17 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the December 2013 IMF Research Bulletin, the Research Summaries look at “Reforming Dual Labor Markets in Advanced Economies” (Giovanni Ganelli) and “Rating Through-The-Cycle: What Does the Concept Imply for Rating Stability Accuracy” (John Kiff, Michael Kisser, and Liliana Schumacher). The Q&A discusses Seven Questions on Financial Crises (Stijn Claessens, M. Ayhan Kose, Luc Laeven, and Fabián Valencia). This issue also includes a listing of recent IMF Working Papers and IMF Staff Discussion Notes, as well as Recommended Readings from the IMF Bookstore. The top-viewed articles from recent of issues of “IMF Economic Review” are featured.

Download or read book From Convergence to Crisis written by Alison Johnston and published by Cornell University Press. This book was released on 2016-06-16 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: What explains Eurozone member-states’ divergent exposure to Europe’s sovereign debt crisis? Deviating from current fiscal and financial views, From Convergence to Crisis focuses on labor markets in a narrative that distinguishes the winners from the losers in the euro crisis. Alison Johnston argues that Europe’s monetary union was structured in a way that advantaged the corporatist labor markets of its northern economies in external trade and financial lending. Northern Europe’s distinct economic advantage lay not with its fiscal capabilities, which were not that different from those of southern Eurozone countries, but with its wage-setting institutions. Through highly coordinated collective bargaining, the euro North persistently undercut the inflation performance of southern trading partners, destining them to a perpetual cycle of competitive decline and external borrowing. While northern Europe’s corporatist labor markets were always low inflation performers, monetary union ultimately made their wage-setting institutions toxic for the South. The euro’s institutional predecessor, the European Monetary System, included economic and institutional mechanisms that facilitated macroeconomic adjustment and convergence between the common currency’s corporatist and noncorporatist economies. Combining cross-national statistical analysis with detailed qualitative case studies of Denmark, Germany, Italy, Ireland, the Netherlands, and Spain, Johnston reveals that monetary union’s removal of these mechanisms allowed external imbalances between these two blocs to grow unchecked, underpinning the crisis in which Europe currently finds itself. Rather than achieving the EU’s goal of an ever-closer union, the common currency produced a monetary environment that destabilized the economic integration of its diverse labor markets.

Download or read book Community Quality of Life Indicators Best Cases VI written by M. Joseph Sirgy and published by Springer Science & Business Media. This book was released on 2013-05-24 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the sixth in a series covering bet practices in community quality-of-life (QOL) indicators. The cases in this volume describe communities that have launched their own community indicators programs. Elements that are included in the descriptions are the history of the community indicators work within the target region, the planning of community indicators, the actual indicators that were selected, the data collection process, the reporting of the results, and the use of the indicators to guide community development decisions and public policy. ​

Download or read book The Euro Crisis written by P. Arestis and published by Springer. This book was released on 2012-04-05 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: A detailed and informed analysis of the current crisis facing the eurozone, examining the root causes and exploring the possible outcomes and uncertain future of the European Union and its currency. Chapters include case studies of Portugal, Ireland, Spain and Greece, as well as broader comparative perspectives.