LABOR MARKETS AND SOCIAL SECURITY ADDISON J., WELFENS P Księgarnia

Labor Markets and Social Security

Issues and Policy Options in the U.S. and Europe

These continue to be difficult times for the labor markets of the industrialized nations. Shifts in labor demand, deregulatory impulses, and the ongoing process of globalization have each impacted the labor markets of the United States and Europe. In the face of the globalization of economic relations and the challenge of the NICs, employment has stagnated in some member states of the EU - in sharp contrast to the United States. Even though several European countries have introduced seemingly successful labor market reforms, whether Euroland as a whole will be able to cope with heterogeneous labor market dynamics and rising immigration is an open question. This theme provides the backdrop to this book. Its main focus is on labor market rules, unemployment, and aspects of the social security system. Theory and practice receive equal attention. Options for reforming labor markets and the social security system provide the policy content.

Keywords: European Market, employment policy, labor markets, social security, unemployment

Table of Contents

Introduction 1

John T. Addison and Paul J.J. Welfens

A. International Trade and the Position of European Low Skilled Labour

Marion Jansen

1. Introduction

2. Trade Patterns in the European Union

3. Trade and the Demand for Low Skilled Labour

3.1 Trade with Countries Having Abundant Low Skilled Labour

3.2 Trade among Similar, Industrialised Countries

3.3 Empirical Evidence of the Effect of Trade on the Demand for Low Skilled Labour

4. Trade and the Increased Substitutability of Workers across Borders

5. Trade and In vestment in Skills

6. Summary and Perspectives

B. EU Enlargement, Migration and the Labour Market: A Tentative

Assessment

Karl Pichelmann

1. East-west Migration Flows: Setting the Stage

2. Enlargement Migration Scenarios for 2005-2010

3. A Brief Look Behind the Aggregate Numbers

4. Summary

C. Structural Unemployment in Europe: A Bird's-Eye View

Karl-Heinz. Paque

1. Introduction

2. Stylised Facts and Evidence

3. Stylised Interpretations

3.1 Genesis of the Evil

3.2 Persistence of the Evil

3.3 Future of the Evil: Speculative Thoughts

4. Ideas on Policy

Comments on: Structural Unemployment in Europe - A Bird's-Eye View

Manfred Teutemann

D. Alternative Subsidies for Low-Wage Employment

Jiirgen Jerger and Alexander Spermann

1. Introduction

2. Background

3.1 A Conceptual Framework

3.2 Labour Market Equilibrium in the Status Quo

3.3 Labour Market Effects of a Targeted NIT Solution

3.4 Alternative Reform Proposals

3.4.1 EITC

3.4.2 BTP

4. Conclusions

Comments on: Alternative Subsidies for Low-Wage Employment

Lioba Trabert

E. Short- and Long-Term Unemployment: A Discrete Duration Model with Time-Varying Covariate Effects

John T. Addison and Pedro Portugal

1. Introduction

2. Model Specification

3. Data

4. Findings

5. Conclusions

Appendix

F. Sectoral Employment Elasticities in Germany

Klaus Lobbe

1. Introduction

2. Growth and Employment in a Long-Term Perspective - Some Simple Findings

2.1 The Position of the Federal Republic of Germany in the International Competitive Order

2.2 Changes of the Sectoral Structure in Western Germany

2.3 European Comparisons of Sectoral Structure "

3. International Comparison of Macroeconomic and Sectoral Employment Thresholds

3.1 Formal Framework

3.2 Results for Selected Industrial Countries in Total

3.3 Results for Selected Sectors -

3.3.1 ... in the Federal Republic of Germany

3 3.2 ... on the European Level

4. Conclusions 141 Appendix

Comments on: Sectoral Employment Elasticities in Germany

Hans Joachim Schalk

G. New Firms and Creating Employment

David B. Audretsch

1. Introduction

2. The Job Generation Debate

2.1 Why Does It Matter?

2.2 The Evidence

2.3 Economic Welfare Implications

3. A Theory of Corporate Downsizing

4. A Theory of Entrepreneurship

5. Policy Implications

6. Conclusions

Comments on: New Firms and Creating Employment

Joachim Wagner

H. Job Creation in the European Information Society

Wolfgang Seufert

1. Information Society and Employment - New Jobs or More Jobs?

2. The Information Occupations and the Labor Force

3. Production of Information Goods and Sectoral Growth

4. ICT, Productivity Gains and Macroeconomic Growth

5. Summary

Comments on: Job Creation in the European Information Society

Paul J.J. Welfens

I.. Maastricht • Implications of a Centralized Monetary and Currency Policy for Employment in Europe

Ansgar Beike

1. Introduction

2. European Monetary Union as an Instrument to Discipline Wage Policy?

3. European Monetary Union as an Impediment to More Employment?

3.1 Political Dependence of the European Central Bank?

3.2 Lack of Integration in an Incentive-Orientated Political Union?

3.3 Lack of Operationalization and Ability to Carry Through the Convergence Criteria?

3.4 Wage Leveling, Inelastic Labor Demand and Lack of the Exchange Rate Instrument .

4. Employment Impacts of Social and Political Union

4.1 Social Protocol

4.2 Employment Impacts of Social Union

4.3 Employment Impacts of Political Union

4.3.1 A European System of Fiscal Equalization

4.3.2 Employment Impacts of a European Financial Policy

5. Criticism of EMU by the Unions

6. Summary and Outlook

Comments on: Maastricht - Implications of a Centralized Monetary and Currency Policy for Employment in Europe

Thomas Rhein

J. Towards Full Employment and Growth in the European Union

Paul J.J. Welfens

1. Introduction: Unemployment and Growth in a European Perspective

2. Labor Market Problems in the EU

2.1 Developments in West European Labor Markets

2.2 Causes and Types of Unemployment

2.3 Barriers to Exit as Barriers to Entry

2.4 Theory of Full Employment

2.5 Degree of Centralized Bargaining, Intra-EU-Trade and the Share of Investment Goods

2.6 Unemployment and Growth: Macroeconomic vs. Structural Approaches

2.6.1 Macroeconomic Approach

2.6.2 Dynamic Two-Sector Approach

3. Policy Options for Growth and Full Employment

3.1 Reform of the Unemployment Insurance System

3.2 How to Achieve Economic Growth

4. Summary and Policy Conclusions

Appendix 1: Link Between Wage Setting and Future Income

Appendix 2: Rate of Product Innovation and the Non-tradable Sector

Appendix 3

Appendix 4

Appendix 5

Comments on: Towards Full Employment and Growth in the European Union

Claus Schnabel

K. Optimal Unemployment Insurance in a Federation

Helge Sanner

1. Introduction

2. Formal Analysis

3. Specification and Comparison of the Models

L. Employment and Wage Effects of Social Security Financing -An Empirical Analysis of the West German Experience and Some Policy Simulations

Viktor Steiner

1. Introduction

2. Previous Related Studies

3. Econometric Model

3.1 Specification of Wage and Employment Equations

3.1.1 Wage Equation

3.1.2 Labour Demand Equation

3.2 Estimation

4. Results

4.1 Integration Tests

4.2 Wage Equations

4.3 Labour Demand Equations

5. Policy Simulations

6. Conclusion

Data Appendix

M. Economic Effects of Continuous Training

Luti. Bellmann/Ute Leber

1. Introduction

2. Earnings Inequality and Unemployment in the U.S. and in Europe and the Role of Continuous Training

2.1 Relative Shifts in Demand and Supply of Labor

2.2 Institutions and Their Effects on Earnings Distribution and Unemployment

2.3 Company Training

2.4 Public Training

3. Training and Unemployment - The Macroeconomic Level

4. Training, Income and Employment - The Microeconomic Level

5. Continuous Training and Firms' Performance

6. Conclusions "

Appendix

N. Social Security Reforms in Europe

Bent Greve

1. Introduction -

2. Why a Crisis - And Will It Continue?

3. A Short Empirical Description of Historical Developments since 1980

4. Change in Labour Market Policies - A Qualitative Assessment

5. Change in Policies for the Elderly - Especially Pensions

6. Summing Up

List of Figures

List of Tables

List of Contributors

Index

402 PAGES

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