Policy Complementarities The Case for Fundamental Labor Market Reform

This paper argues that an important group of labor market policies are complementary in the sense that the effect of each policy is greater when implemented in conjunction with the other policies than in isolation. This may explain why the diverse, piecemeal labor market reforms in many European cou...

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Bibliographic Details
Main Author: Snower, Dennis
Other Authors: Coe, David
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1996
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Policy Complementarities  |b The Case for Fundamental Labor Market Reform  |c Dennis Snower, David Coe 
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300 |a 40 pages 
651 4 |a United States 
653 |a Unemployment Insurance 
653 |a Employment 
653 |a Intergenerational Income Distribution 
653 |a Unemployment 
653 |a Income economics 
653 |a Aggregate Human Capital 
653 |a Wages 
653 |a Severance Pay 
653 |a Labor market 
653 |a Wages, Compensation, and Labor Costs: General 
653 |a Labor 
653 |a Unemployment rate 
653 |a Public finance & taxation 
653 |a Unemployment benefits 
653 |a Unemployment insurance 
653 |a Public Finance 
653 |a Plant Closings 
653 |a Labor markets 
653 |a Demand and Supply of Labor: General 
653 |a Labour 
653 |a Unemployment: Models, Duration, Incidence, and Job Search 
653 |a Expenditure 
653 |a Aggregate Labor Productivity 
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520 |a This paper argues that an important group of labor market policies are complementary in the sense that the effect of each policy is greater when implemented in conjunction with the other policies than in isolation. This may explain why the diverse, piecemeal labor market reforms in many European countries in recent years have had so little success in reducing unemployment. What is required instead is deeper labor market reforms across a broader range of complementary policies and institutions. To be politically feasible, these reforms must be combined with measures to address distributional issues