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- W3143290435 abstract "Abstract Most economists think that unemployment is high in Europe because of rigid labour market institutions such as minimum wages, unemployment benefits, and employment protection. The book develops a theory of labour market institutions as the outcome of the political process. A central hypothesis is that they will be chiefly determined by the interests of employed workers with intermediate skill levels. We show that redistributive conflict between these workers and more skilled workers may lead to an outcome where a set of rigid institutions arise. We analyse why reform may be difficult because of status‐quo bias, and discuss how it may nevertheless be implemented by choosing an appropriate design or timing for the reform." @default.
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- W3143290435 date "2000-09-28" @default.
- W3143290435 modified "2023-10-14" @default.
- W3143290435 title "The Political Economy of Labour Market Institutions" @default.
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- W3143290435 doi "https://doi.org/10.1093/0198293321.001.0001" @default.
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