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- W2489245887 abstract "Abstract This concluding chapter makes use of evidence from the earlier chapters in this volume, from other recent country case studies, and from additional data on selected country “success stories” and “failures” to sum up the empirical case against the orthodox view—that labor market rigidities explain high unemployment and that free market reforms are required for good employment performance. Some dimensions of the French, Italian, Belgian, and Austrian experiences not covered in the earlier chapters are briefly discussed. The country case study evidence suggests an alternative to the orthodox rigidity account: employment performance across affluent countries appears to be related to the ability to effectively coordinate macroeconomic and social policies with the wage bargaining system, and that this in turn seems to require both strong employer and union associations and a relatively stable and consensual political environment. In any case, it is evident that fundamentally different labor market models are compatible with low unemployment, ranging from the free market “American Model” to the much more regulated and coordinated Scandinavian systems. The policy discourse should move beyond free market orthodoxy." @default.
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- W2489245887 date "2005-02-24" @default.
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- W2489245887 title "Unemployment and Labor Market Institutions" @default.
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- W2489245887 doi "https://doi.org/10.1093/0195165845.003.0010" @default.
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