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Title: Is Portugal Really so Arteriosclerotic? Results from a Cross-Country Analysis of Labour Adjustment
Authors: Addison, John T. 
Teixeira, Paulino 
Issue Date: 1999
Publisher: FEUC. Grupo de Estudos Monetários e Financeiros
Citation: Estudos do GEMF. 7 (1999)
Abstract: Summary measures of the overall strictness of a country’s employment protection laws have proven popular constructs in cross-country studies of the covariation of labour market institutions and macroeconomic outcomes. Portugal occupies an unenviable position in the international rankings. We critique this reputation in two ways: first, by offering a modicum of corrective institutional detail; and, second, via a detailed analysis of the process of labour adjustment in Portugal, benchmarked to the experience of Germany, Spain, and the U.K. Our error-correction model indicates that Portugal has a very high speed of adjustment to deviations from the long-run employment output equilibrium. More in accord with received wisdom is the very smooth adjustment mechanism of the U.K.
Rights: openAccess
Appears in Collections:FEUC- Vários

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