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https://hdl.handle.net/10316/11925
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. | URI: | https://hdl.handle.net/10316/11925 | Rights: | openAccess |
Appears in Collections: | FEUC- Vários |
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File | Description | Size | Format | |
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Is Portugal Really so Arteriosclerotic.pdf | 127.18 kB | Adobe PDF | View/Open |
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