{
  "title": "Aspects of the Swiss Labor Market",
  "publication": "IMF Working Papers, January 1, 1996",
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  "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.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Title: Aspects of the Swiss Labor Market\n- Authors: Paula De Masi, S. G. B. Henry\n- Date: January 1, 1996\n- Series: Working Paper No. 1996/003\n- DOI: https://doi.org/10.5089/9781451841855.001"
    },
    {
      "heading": "Main findings",
      "content": "- The paper analyzes the behavior of the Swiss labor market, emphasizing both changes to labor supply and real wage inflexibility as determinants of recent unusually high levels of unemployment.\n- Historical supply responses meant that measured unemployment rates were rarely high in the past.\n- These supply responses likely made real wages less responsive to shocks.\n- Econometric tests reported in the paper broadly confirm the above suggestions.\n- The tests imply that the level of unemployment consistent with stable inflation has risen in Switzerland."
    },
    {
      "heading": "Econometric evidence",
      "content": "- Econometric tests are reported and described as broadly confirming the suggestions regarding:\n  - supply responses that historically suppressed measured unemployment rates; and\n  - reduced responsiveness of real wages to economic shocks."
    },
    {
      "heading": "Implications for unemployment, wages, and inflation",
      "content": "- Real wage inflexibility and supply-side labor responses have contributed to unusually high unemployment levels.\n- The level of unemployment consistent with stable inflation has increased in Switzerland, according to the paper’s econometric results.\n\n---\n\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/aspects-of-the-swiss-labor-market-1968"
    }
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    "Authors: Paula De Masi, S. G. B. Henry",
    "Published: January 1, 1996",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451841855.001",
    "Title: Aspects of the Swiss Labor Market",
    "Authors: Paula De Masi, S. G. B. Henry",
    "Date: January 1, 1996",
    "Series: Working Paper No. 1996/003",
    "DOI: https://doi.org/10.5089/9781451841855.001",
    "The paper analyzes the behavior of the Swiss labor market, emphasizing both changes to labor supply and real wage inflexibility as determinants of recent unusually high levels of unemployment.",
    "Historical supply responses meant that measured unemployment rates were rarely high in the past.",
    "These supply responses likely made real wages less responsive to shocks.",
    "Econometric tests reported in the paper broadly confirm the above suggestions.",
    "The tests imply that the level of unemployment consistent with stable inflation has risen in Switzerland.",
    "Econometric tests are reported and described as broadly confirming the suggestions regarding:",
    "Real wage inflexibility and supply-side labor responses have contributed to unusually high unemployment levels.",
    "The level of unemployment consistent with stable inflation has increased in Switzerland, according to the paper’s econometric results."
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