Open AccessBook
The insider-outsider theory of employment and unemployment
TLDR
Lindbeck and Snower as mentioned in this paper provide an accessible, balanced account of the insider-outsider theory of labor market activity, focusing on how insiders get market power, what they do with that power, and how their activities affect the outsiders.Abstract:
This book provides an accessible, balanced account of the insider-outsider theory of labor market activity. It focuses on how "insiders" (incumbent employees whose jobs are protected by various labor turnover costs) get market power, what they do with that power, and how their activities affect the "outsiders" (who are either unemployed or work in the informal sector). The book examines the effects of insiders' activities on wages, employment, and unemployment; discusses the associated policy implications; and relates the insider-outsider theory to other theories of labor market activity.The central part of the book consists of a series of previously published articles that have been edited to convey a single coherent account of the insider-outsider theory. Chapters are preceded by overviews summarizing the main ideas and relating them to the book's underlying theme.Assar Lindbeck is Professor of International Economics and Director of the Institute of International Economics at the University of Stockholm. Dennis J. Snower is Professor of Economics, Birkbeck College, University of London.read more
Citations
More filters
Journal ArticleDOI
Bounds testing approaches to the analysis of level relationships
TL;DR: In this paper, the authors developed a new approach to the problem of testing the existence of a level relationship between a dependent variable and a set of regressors, when it is not known with certainty whether the underlying regressors are trend- or first-difference stationary.
Book
Equilibrium Unemployment Theory
TL;DR: In this article, the model of balanced growth is used to model the labour market and balance-growth adjustment dynamics, and search intensity and job advertising are modeled as ananlysis of the labor market.
Posted Content
New Developments in Models of Search in the Labour Market
TL;DR: In this article, the authors survey recent work in equilibrium models of labor markets characterized by search and recruitment frictions and by the need to reallocate workers across productive activities, and use the framework to study the influence of alternative labor market institutions and policies on wages and unemployment.
Book
The European unemployment dilemma
TL;DR: The authors used a general equilibrium search model in which workers accumulate skills on the job and lose skills during unemployment, and impute the higher unemployment to welfare states' diminished ability to cope with more turbulent economic times, such as the ongoing restructuring from manufacturing to the service industry, adoption of new information technologies, and rapidly changing international economy.
Posted Content
Financial Market Imperfections and Business Cycles
TL;DR: This article developed a simple model of macroeconomic behavior which incorporates the impact of financial market imperfections, such as those generated by asymmetric information in financial markets, and showed that these information asymmetries may lead to breakdowns in markets, like that for equity, in which risks arm shared.