Le, H., Wood, G. and Yin, S. (2021) Labour market outcomes of different institutional regimes : evidence from the OECD countries. Cambridge Journal of Economics, 45 (1). pp. 85-108. ISSN 0309-166X
Abstract
The rise of populism has been widely ascribed, at least in part, to an inability of national systems to generate decent employment or, indeed, stem its decline. This article explores the basis and nature of variations in labour market outcomes of different institutional regimes. For this comparative institutional analysis, we build indexes of labour market outcomes in the OECD countries, measuring actual cross-country variations and encompassing a much wider range of evidence in terms of countries and time periods covered than previous studies. We show that in terms of job availability and wages, the liberal market economies (LMEs) have advantages, but once involuntary part-time employment and wage inequality are considered, labour market outcomes appear superior in the continental European countries and the Scandinavia social democracies. However, any advantages of the LMEs appear to be diminishing since the global financial crisis. Compared with other regimes, Southern European and transitional economies have lower level of job availability and wage rates but are comparable in other aspects of the labour market.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2020 The Author(s). This is an author-produced version of a paper subsequently published in Cambridge Journal of Economics. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Labour market outcomes; Varieties of Capitalism; employment; gender wage gap; wage inequality; financial crisis |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Management School (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 14 Sep 2020 07:55 |
Last Modified: | 13 Jul 2022 00:13 |
Status: | Published |
Publisher: | Oxford University Press (OUP) |
Refereed: | Yes |
Identification Number: | 10.1093/cje/beaa021 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:165488 |