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首页> 外文期刊>Review of Income and Wealth >SHAPING EARNINGS INSECURITY: LABOR MARKET POLICY AND INSTITUTIONAL FACTORS
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SHAPING EARNINGS INSECURITY: LABOR MARKET POLICY AND INSTITUTIONAL FACTORS

机译：塑造盈余不安全感：劳动市场政策和制度因素

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摘要

We examine the relationship between earnings insecurity, labor market policies/institutions, product market regulation, and macroeconomic shocks across Europe in the 1990s by means of the non-linear least squares method. Earnings insecurity is proxied by transitory variability in earnings, which captures transitory earnings shocks, and by earnings volatility, which captures both permanent and transitory earnings shocks. Our results suggest that corporative bargaining systems, generous unemployment benefits, and deregulated product markets reduce the impact of macroeconomic shocks on transitory variability in earnings and earnings volatility, while a stronger labor protection legislation reduces the impact of macroeconomic shocks on earnings volatility. Several institutional mixes have the potential to reduce transitory variability, for example coupling a high corporatism with a high unionization, coupling protection mechanisms with activation policies, incorporating a trade-off between the generosity of unemployment benefits and the strictness of labor market regulation, and coupling product market deregulation with deregulated labor markets or with a high unionization. Two valuable lessons are that contextual interaction effects are important for understanding the influence of particular policies and institutions on earnings insecurity and that there is no one-size-fits all policy package for reducing the impact of the business cycle on transitory variability and volatility.
机译：我们通过非线性最小二乘法研究了1990年代欧洲各地的收入不安全，劳动力市场政策/制度，产品市场监管和宏观经济冲击之间的关系。收入的不安全性受到收入的暂时性变化（捕获了临时性收益冲击）和收益波动性（包括了永久性和临时性收益冲击）的支持。我们的研究结果表明，公司议价制度，慷慨的失业救济金和放松管制的产品市场可以降低宏观经济冲击对收入和收入波动性暂时变化的影响，而更强有力的劳工保护法规可以减少宏观经济冲击对收入波动性的影响。多种制度组合有可能减少暂时的变异性，例如，将高度公司主义与高度工会化相结合，将保护机制与激活政策相结合，在失业救济的慷慨与严格的劳动力市场监管之间进行权衡，以及相结合产品市场放松管制或劳动力市场放松管制或工会组织高度化。两个有价值的教训是，上下文交互作用对于理解特定政策和机构对收益不安全的影响非常重要，并且没有一种万能的方法可以减少商业周期对暂时性变异和波动的影响。

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