Labour market rigidities and international risk sharing across OECD countries

被引：2

作者：

Fidrmuc, Jarko ^{[2
,3
,4
]}

Foster, Neil ^{[1
]}

Scharler, Johann ^{[5
]}

机构：

[1] Vienna Inst Int Econ Studies Wiiw, A-1060 Vienna, Austria

[2] Zeppelin Univ, D-88045 Friedrichshafen, Germany

[3] CESifo, Munich, Germany

[4] Comenius Univ, Bratislava, Slovakia

[5] Univ Linz, Dept Econ, A-4040 Linz, Austria

来源：

JOURNAL OF INTERNATIONAL MONEY AND FINANCE | 2011年 / 30卷 / 04期

关键词：

Risk sharing; Employment protection; Consumption correlations; CURRENCY AREA CRITERIA; BUSINESS CYCLES; EMU ENLARGEMENT; HOME BIAS; TRADE; CONSUMPTION; SYNCHRONIZATION; SPECIALIZATION; ENDOGENEITY; INTEGRATION;

D O I：

10.1016/j.jimonfin.2011.02.003

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In this paper we examine the role of labour market rigidities in the context of international consumption risk sharing. Stronger labour market regulation may make it easier to borrow against future income, thus allowing shocks to be smoothed to a greater extent. In addition, rigid labour markets may help to enforce implicit contracts that shift risk from employees to owners of firms, who, in turn, may diversify risk internationally. Using data for 19 OECD countries we show that labour market rigidities significantly increase consumption correlations and reduce the exposure to country-specific shocks. These results suggest that labour market rigidities improve the international sharing of consumption risks by fostering a more efficient intra-national allocation of risk. (C) 2011 Elsevier Ltd. All rights reserved.

引用

页码：660 / 677

页数：18

共 50 条

[21] Government expenditure on labour market policies in OECD countries: responding to the economic crisis
Hur, Hyungjo
[J]. POLICY STUDIES, 2019, 40 (06) : 585 - 608
[22] The impact of labour market institutions on income inequality: evidence from OECD countries
Fortuna, Natercia
Neto, Antonio
[J]. APPLIED ECONOMICS LETTERS, 2021, 28 (13) : 1110 - 1113
[23] Women, labour, and public policy: Female labour market integration in OECD countries. A comparative perspective
Stadelmann-Steffen, Isabelle
[J]. JOURNAL OF SOCIAL POLICY, 2008, 37 : 383 - 408
[24] Wage rigidities and labour market performance in the Czech Republic
Nemec, Daniel
Macicek, Martin
[J]. 34TH INTERNATIONAL CONFERENCE MATHEMATICAL METHODS IN ECONOMICS (MME 2016), 2016, : 612 - 617
[25] Activation and active labour market policies in OECD countries: stylised facts and evidence on their effectiveness
Martin, John P.
[J]. IZA JOURNAL OF LABOR POLICY, 2015, 4
[26] RISK SHARING ON THE LABOR-MARKET AND 2ND-BEST WAGE RIGIDITIES
DREZE, JH
GOLLIER, C
[J]. EUROPEAN ECONOMIC REVIEW, 1993, 37 (08) : 1457 - 1482
[27] Risk sharing channels in OECD countries: A heterogeneous panel VAR approach
Asdrubali, Pierfederico
Kim, Soyoung
Pericoli, Filippo Maria
Poncela, Pilar
[J]. JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 2023, 131
[28] Economic integration and consumption risk sharing: A comparison of Eurozone and OECD countries
Beck, Krzysztof
Yersh, Valeryia
[J]. INTERNATIONAL REVIEW OF ECONOMICS & FINANCE, 2024, 89 : 784 - 803
[29] SHARING SAFETY EXPERIENCE IN OECD COUNTRIES
STADIE, KB
[J]. NUCLEAR ENGINEERING INTERNATIONAL, 1981, 26 (312): : 36 - 39
[30] On the empirics of risk-sharing across MENA countries
Balli, Faruk
Balli, Hatice Ozer
[J]. APPLIED ECONOMICS, 2013, 45 (23) : 3370 - 3377

← 1 2 3 4 5 →