Dual Labor Markets and Business Cycles

Charles Wyplosz of The Graduate Institute, Geneva reviews “Europe and the Euro” edited by Alberto Alesina and Francesco Giavazzi. The EconLit Abstract of the reviewed work begins, “Eleven papers with comments, drawn from an NBER conference on “Europe and the Euro” held in October 2008, examine a number of issues related to the euro, including the effects of the euro on reform of goods and labor markets; its influence on business cycles and trade among members; and whether the ….”

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Labor Markets and Business Cycles

10.1515/9781400835232 ◽

2010 ◽

Cited By ~ 39

Author(s):

Robert Shimer

Keyword(s):

Business Cycles ◽

Labor Markets

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Dual Labor Markets Revisited

Oxford Research Encyclopedia of Economics and Finance ◽

10.1093/acrefore/9780190625979.013.502 ◽

2020 ◽

Cited By ~ 4

Author(s):

Samuel Bentolila ◽

Juan J. Dolado ◽

Juan F. Jimeno

Keyword(s):

Labor Market ◽

Labor Markets ◽

Employment Protection ◽

Theoretical Research ◽

Market Effects ◽

The Great Recession ◽

Reform Strategies ◽

Dual Labor Markets ◽

Dead End ◽

Protection Legislation

This article provides an overview of empirical and theoretical research on dual labor markets. It revisits the labor-market effects of dual employment protection legislation as well as the main factors behind its resilience. Characterized by a high incidence of temporary contracts, which may lead to stepping-stone or dead-end jobs, dual labor markets exhibit specific features regarding the determination of employment, unemployment, churn, training, productivity growth, wages, and labor market flows. Relying on the contrasting experiences of several OECD countries with different degrees of duality and, in particular, on the very poor employment performance of some EU countries during the Great Recession, lessons are drawn about policy-reform strategies aiming to correct the inefficiencies of dual labor markets.

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