Labor Market Policies and IMF Advice in Advanced Economies during the Great Recession

ByOlivier J Blanchard, Florence Jaumotte, Prakash Loungani

March 29, 2013

Disclaimer: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published to elicit comments and to further debate.

Summary

This paper does two things. First, it articulates what are the main implications of theoretical and empirical research for design of labor market policies and labor market institutions. Second, in this light, the paper analyzes the IMF’s labor market recommendations since the beginning of the crisis, both in general, and more specifically in program countries

Subject: Employment protection, Expenditure, Labor, Labor markets, Unemployment, Unemployment benefits, Unemployment rate, Wages

Keywords: employment protection, Employment protection, Europe, Great Recession, labor market institutions, natural rate of unemployment, private sector, public sector wage, SDN, Unemployment, Unemployment benefits, unemployment insurance, Unemployment rate, wage deflation, wage distribution, Wages

Pages:
30
Volume:
2013
DOI:
https://doi.org/10.5089/9781484301289.006
Issue:
002
Series:
Staff Discussion Notes No. 2013/002
Stock No:
SDNEA2013002
ISBN:
9781484301289
ISSN:
2617-6750

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