Login / Register Submit Your Article
cover
Article Menu

Journal Browser
Vol. 6 (2024)
Vol. 5 (2023)
Vol. 4 (2022)
Vol. 3 (2021)
Vol. 2 (2020)
Vol. 1 (2019)
Open Access Journal Article

Labor Market Policies and Economic Performance

by Michael Harris 1,*
1
Michael Harris
*
Author to whom correspondence should be addressed.
EFRL  2023 5(1):39; https://doi.org/10.69610/j.efrl.20230519
Received: 17 March 2023 / Accepted: 19 April 2023 / Published Online: 19 May 2023
View Full-Text
Download PDF

Abstract

The paper explores the intricate relationship between labor market policies and economic performance, examining how various policy measures implemented by governments can significantly impact economic outcomes. It begins by delineating the key labor market policies, such as minimum wage regulations, unemployment benefits, and labor market flexibility initiatives. The analysis then delves into the empirical evidence, utilizing both historical data and case studies, to illustrate the effects of these policies on economic growth, employment rates, and productivity. The paper argues that while well-designed labor market policies can foster economic stability and growth, ill-conceived or misaligned policies can lead to negative consequences, including increased unemployment and reduced competitiveness. Furthermore, the paper discusses the role of institutional factors, such as trade unions and employment protection legislation, in shaping the effectiveness of labor market policies. It concludes with a call for policymakers to balance short-term economic objectives with long-term sustainability, ensuring that labor market policies contribute to overall economic prosperity.

Keywords: Labor Market Policies; Economic Performance; Minimum Wage; Unemployment Benefits; Productivity.;
Copyright: © 2023 by Harris. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
Cite This Paper
APA Style
Harris, M. (2023). Labor Market Policies and Economic Performance. Economics and Finance Research Letters, 5(1), 39. doi:10.69610/j.efrl.20230519
ACS Style
Harris, M. Labor Market Policies and Economic Performance. Economics and Finance Research Letters, 2023, 5, 39. doi:10.69610/j.efrl.20230519
AMA Style
Harris M. Labor Market Policies and Economic Performance. Economics and Finance Research Letters; 2023, 5(1):39. doi:10.69610/j.efrl.20230519
Chicago/Turabian Style
Harris, Michael 2023. "Labor Market Policies and Economic Performance" Economics and Finance Research Letters 5, no.1:39. doi:10.69610/j.efrl.20230519

Share and Cite

ACS Style
Harris, M. Labor Market Policies and Economic Performance. Economics and Finance Research Letters, 2023, 5, 39. doi:10.69610/j.efrl.20230519
AMA Style
Harris M. Labor Market Policies and Economic Performance. Economics and Finance Research Letters; 2023, 5(1):39. doi:10.69610/j.efrl.20230519
Chicago/Turabian Style
Harris, Michael 2023. "Labor Market Policies and Economic Performance" Economics and Finance Research Letters 5, no.1:39. doi:10.69610/j.efrl.20230519
APA style
Harris, M. (2023). Labor Market Policies and Economic Performance. Economics and Finance Research Letters, 5(1), 39. doi:10.69610/j.efrl.20230519

Article Metrics

Article Access Statistics

References

  1. Akerlof, G. A. (1982). Labor supply and the theory of wage determination. In J. M. Buchanan, R. D. Tollison, & G. Tullock (Eds.), The economics of information (pp. 209-234). Academic Press.
  2. Acemoglu, D., & Angrist, J. D. (2001). Contractionary effects of affirmative action. Journal of Economic Perspectives, 15(4), 105-126.
  3. Akerlof, G. A., & Yellen, J. (1996). Efficient contracts when agents have private information. The Quarterly Journal of Economics, 111(1), 27-73.
  4. Acemoglu, D., & Pischke, J. S. (1999). The effects of labor market institutions on economic performance. NBER Working Paper No. 7284.
  5. Card, D., & Krueger, A. B. (1995). Myth and measure: The new economics of the minimum wage. Princeton University Press.
  6. Davig, T., & Leduc, S. (2010). The effects of labor market institutions on job security, unemployment, and economic growth. Journal of Economic Dynamics and Control, 34(11), 2215-2236.
  7. Europe, A. J. (1987). The effect of employment protection legislation on employment, wages, and labor costs. Review of Economic Studies, 54(2), 257-274.
  8. Foster, A. D., & Rosenzweig, M. R. (1995). Economic growth and population change: The effects of population policies on China's economic development. Population and Development Review, 21(3), 451-490.
  9. Krueger, A. B. (1993). The effect of unions on economic performance. In J. M. Buchanan, R. D. Tollison, & G. Tullock (Eds.), The economics of information (pp. 235-258). Academic Press.
  10. Moers, J. (1990). The effect of employment protection legislation on economic welfare. Scandinavian Journal of Economics, 92(2), 203-216.
  11. Neumark, D., & Wascher, W. L. (2000). Minimum wages and employment: A case study of the fast-food industry in New Jersey and Pennsylvania. Industrial and Labor Relations Review, 53(2), 244-261.
  12. Pissarides, C. A. (1994). The effects of unemployment benefits on unemployment: The role of the statistics. Economic Journal, 104(425), 678-695.
  13. Stolper, W. F. (1999). The role of labor market flexibility in the development process. In T. I. Palley & J. B. Schmitt (Eds.), Macroeconomic flexibility: New institutional realities, new policy challenges (pp. 21-48). MIT Press.
  14. Burbules, N. C., & Callister, T. A. (2000). Watch IT: The risks and promises of information technologies for education. Westview Press.
  15. Burda, M. C., & Wyplosz, C. (1997). Macroeconomics: A European Approach. Oxford University Press.