2020

How Labor Market Institutions Affect Job Creation and Productivity Growth – An Update

Reprint No. 2020:1

Author(s): Magnus HenreksonYear: 2020 Title: IZA World of Labor Volume (No.): 1 (January) Pages: 1–10
Online article (restrictions may apply)

How Labor Market Institutions Affect Job Creation and Productivity Growth – An Update Magnus Henrekson


Economic growth requires factor reallocation across firms and continuous replacement of technologies. Labor market institutions influence economic dynamism by their impact on the supply of a key factor, skilled workers to new and expanding firms, and the shedding of workers from declining and failing firms. Growth-favoring labor market institutions include portable pension plans and other job tenure rights, health insurance untied to the current employer, individualized wage-setting, and public income insurance systems that encourage mobility and risk-taking in the labor market.


Reference:
Henrekson, Magnus (2020), "How Labor Market Institutions Affect Job Creation and Productivity Growth – An Update". IZA World of Labor 1(January), 1–10.

Magnus Henrekson

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Interdisciplinary European Studies

The European Union in a Changing World Order

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This book explores how the European Union responds to the ongoing challenges to the liberal international order. These challenges arise both within the EU itself and beyond its borders, and put into question the values of free trade and liberal democracy. 

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