Aspects of the Swiss Labor Market
Summary:
This paper presents an analysis of the behavior of the Swiss labor market, which emphasizes both changes to labor supply and real wage inflexibility as determinants of recent unusually high levels of unemployment. Supply responses in the past meant that measured unemployment rates were rarely high. The paper suggests that these responses also meant that real wages were probably less responsive to shocks as a result. Econometric tests reported in the paper broadly confirm these suggestions, and imply that the level of unemployment consistent with stable inflation has risen in Switzerland.
Series:
Working Paper No. 1996/003
Subject:
Expenditure Labor Labor markets Real wages Unemployment Unemployment benefits Unemployment rate Wages
English
Publication Date:
January 1, 1996
ISBN/ISSN:
9781451841855/1018-5941
Stock No:
WPIEA0031996
Pages:
28
Please address any questions about this title to publications@imf.org