Oxford Review of Economic Policy
Опубликовано на портале: 22-05-2004Barry Eichengreen, Torben Iversen Oxford Review of Economic Policy. 1998. Vol. 15. No. 4. P. 121-138.
The institutional determinants of economic performance is analyzed, taking European labor-market institutions as a case in point. European economic growth after the Second World War was based on Fordist technologies, a setting to which the continent's institutions of solidaristic wage bargaining were ideally suited. They eased distributive conflicts and delivered wage moderation, which in turn supported high investment. The wage compression that was a corollary of their operation was of little consequence so long as the dominant technologies were such that firms could rely on a relatively homogeneous labor force. But as Fordism gave way to diversified quality production, which relied more on highly skilled workers, the centralization of bargaining and the compression of wages became impediments rather than aids to growth. Assuming that growth will rely even more in the future on rapidly changing, science-based, skilled-labor-intensive technologies, countries with centralized labor-market institutions will have to move still further in the direction of decentralization. Whether Europe in particular can accommodate these demands will help to determine whether it is able to re-establish a full employment economy in the twenty-first century.
Опубликовано на портале: 15-12-2002David Webster Oxford Review of Economic Policy. . Vol. 16. No. 1. P. 114-128.
This paper argues that British welfare to work policies are inadequate, given the geographical concentration of worklessness in northern regions and in cities and former coalfields. While unemployment has been converging geographically, inactivity has not. All the welfare to work target groups - youth unemployed, long-term unemployed, lone parents, the long-term sick, and partners of the unemployed - have closely similar geographical distributions. Official arguments that there are adequate job vacancies everywhere are shown to be flawed. The geography of worklessness is largely explained by the weakness of adjustment through migration and commuting to the loss of jobs in manufacturing and mining, the cities being particularly affected by urban-rural manufacturing shift. Policy needs to promote more relevant employment in high unemployment areas, through increased spending on derelict land reclamation and on transport and other infrastructure. The case for more supportive policies towards manufacturing should also be considered.
The impact of the regulation of low wages on inequality and labour-market adjustment: A comparative analysis [статья]
Опубликовано на портале: 15-12-2002Stephen Bazen Oxford Review of Economic Policy. . Vol. 16. No. 1. P. 57-69.
In all continental European countries there exist non-market mechanisms that determine or regulate wage rates for the low-paid. The experience of three countries that have national minimum wages - France, Belgium, and the Netherlands - and three where low wage rates are determined through widespread collective bargaining - Germany, Italy, and Denmark, are considered. It is found that overall there is less inequality (both wage and income) and less poverty than in the UK and the US, where low wages are less regulated. Furthermore, patterns of labor-market adjustment - employment, unemployment, and gross job flows - vary greatly, suggesting that there is no one-to-one mapping between the presence of mechanisms to regulate low wages and labor-market performance. Furthermore, wage shares have been falling since the early 1980s. It is therefore difficult to attribute high and persistent rates of unemployment found in certain countries to the existence of mechanisms to regulate low wages.
Опубликовано на портале: 15-12-2002Stephen Nickell, Glenda Quintini Oxford Review of Economic Policy. . Vol. 18. No. 2. P. 202-220.
Both the overall macroeconomic performance of the UK labour market since 1997 are considered, as well as some of the underlying micro problems, particularly those facing unskilled workers. On the macro front, unemployment has declined to its lowest level for a generation without excessive inflationary pressure. The main factors behind this decline in equilibrium unemployment stem from actions taken by the previous government. Changes introduced in the labour market since 1997 are likely to have only small effects on equilibrium unemployment. Underlying this favourable aggregate labour-market performance are serious problems facing unskilled men who have seen dramatic increases in their unemployment and inactivity rates, concentrated particularly in Wales and the northern regions of Britain. The policy response since 1997 has focused on encouraging the unskilled into work (the New Deal) while simultaneously raising the rewards for working. These polices have had a positive impact on youth employment and have significantly reduced child poverty. So far, however, existing policies do not seem likely to have a serious impact on the high levels of worklessness among unskilled men.
The role of the state in skill formation: evidence from the Republic of Korea, Singapore, and Taiwan [статья]
Опубликовано на портале: 15-12-2002Francis Green, David Ashton, Donna James Oxford Review of Economic Policy. . Vol. 15. No. 1. P. 82-96.
We propose a new interpretation of the role of the state in skill formation, with reference to three East Asian newly industrialized economies. Rather than see the state as simply redressing externalities, we interpret the state as matching the supply and demand for skills in a rapidly growing economy. This role can be superior to a strategy of allowing education and training institutions to be driven by autonomous processes. The role is most likely to be observed in developmental states. We examine the political mechanisms that have helped to ensure that educational and training policy formation are subordinated to the imperatives of economic growth. While the East Asian model cannot be imported wholesale to western countries such as Britain in different historical circumstances, the example lends credence to the value of the state taking a strategic approach to education and training policy.