			Home About us Contact

Market Adjustment (market + adjustment)

Distribution by Scientific Domains

Humanities and Social Sciences	50%
Business, Economics, Finance and Accounting	50%

Kinds of Market Adjustment

labour market adjustment

Selected Abstracts

Regional Labour Market Adjustment: Are Positive and Negative Shocks Different?

LABOUR, Issue 2 2002
Sari Pekkala
This paper analyses regional labour market adjustment in the Finnish provinces during 1971,96. It investigates the interrelations of employment, unemployment and labour force participation to examine how a change in labour demand is adjusted to. The study questions the usual assumption that positive and negative shocks evoke similar adjustment processes. Instead, we test for the possibility that the effects of positive and negative shocks are asymmetric. The analysis reveals that there is little asymmetry in the adjustment to region-specific labour demand shocks, but adjustment to total (region-specific plus common component) shocks displays more asymmetry. The region-specific component of a labour demand shock has short-lived effects on unemployment and participation, and its effect on employment is very small but permanent [persistent?]. Initially, most of the fall in employment is absorbed by the unemployment and participation rate, but after a few years migration plays a larger role in the adjustment process. [source]

Labour Market Adjustments in Europe , Edited by Julian Messina, Claudio Michelacci, Jarkko Turunen and Gylfi Zoega

BRITISH JOURNAL OF INDUSTRIAL RELATIONS, Issue 2 2007
Sotiria Theodoropoulou
No abstract is available for this article. [source]

Labour market adjustment a hundred years ago: the case of the Catalan textile industry, 1880,19131

ECONOMIC HISTORY REVIEW, Issue 1 2008
JORDI DOMENECH
This paper studies the way workers and firms behaved in a highly cyclical sector such as the Catalan cotton textile industry. Using firm level evidence from the late nineteenth and early twentieth centuries, the paper shows that, in spite of weak unionization and the lack of regional or local collective bargaining institutions, piece rates in cotton spinning and weaving were not subject to competitive rate cuts and remained fixed over the cycle. When facing a negative demand shock, firms adjusted by reducing output, hours of work, labour productivity, and employment. The paper finally evaluates the possible sources of wage rigidity in the industry. [source]

From ,welfare without work' to ,buttressed liberalization': The shifting dynamics of labor market adjustment in France and Germany

EUROPEAN JOURNAL OF POLITICAL RESEARCH, Issue 3 2008
MARK I. VAIL
Scholars blame this disease on dysfunctional political arrangements, deep insider-outsider cleavages and failed systems of social partnership. As a result, the two countries are said to be more or less permanently mired in a context of high unemployment that is highly resistant to remediation. This article departs from this conventional wisdom in two important respects. First, it argues that France and Germany have undertaken major reforms of their labor market policies and institutions during the past decade and remediated many of their longstanding employment traps. Second, it shows that the political arrangements that adherents of the ,welfare without work' thesis identify as reasons for sclerosis have evolved quite dramatically. The article supports these arguments by exploring some of the most significant recent labor market reforms in the two countries, as well as the shifting political relationships that have driven these changes. In both countries, recent labor market reforms have followed a trajectory of ,buttressed liberalization'. This has involved, on the one hand, significant liberalization of labor market regulations such as limits on overtime and worker protections such as unemployment insurance. On the other hand, it has entailed a set of supportive, ,buttressing' reforms involving an expansion of active labor market policies and support for workers' efforts to find jobs. The article concludes that these developments provide reasons for optimism about the countries' economic futures and offer important lessons about how public policy can confront problems of labor market stagnation. [source]

The Occupational Assimilation of Hispanic Immigrants in the U.S.: Evidence from Panel Data1

INTERNATIONAL MIGRATION REVIEW, Issue 3 2006
Maude Toussaint-Comeau
This study focuses on the occupational component of the labor market adjustment of Hispanic immigrants. The author asks whether Hispanic immigrants assimilate with natives and what factors influence occupational attainment. The findings suggest that years since migration narrow the socioeconomic gap between Hispanic immigrants, their U.S.-born Hispanic counterparts, and non-Hispanic whites. The level of human capital affects the rate of occupational mobility and determines whether convergence occurs in the groups' socioeconomic occupational status. The occupational status of Hispanic immigrants with low human capital remains fairly stable and does not converge with that of non-Hispanic whites. However, those with high human capital experience upward occupational mobility. In part, their occupational assimilation is driven by the acquisition of human capital among younger Hispanic immigrants. [source]

Regional Labour Market Adjustment: Are Positive and Negative Shocks Different?

Regional labor markets in Finland: Adjustment to total versus region-specific shocks

PAPERS IN REGIONAL SCIENCE, Issue 3 2002
Sari Pekkala
Labor market; employment; unemployment; migration; shock adjustment Abstract This article analyses regional labor market adjustment in the Finnish provinces during 1976,2000. We investigate the inter-relations of employment, unemployment, labor force participation, and migration to see how a change in region-specific and total labor demand is adjusted. The analysis reveals that region-specific labor demand shocks adjust mainly via participation, whereas total shocks are adjusted by unemployment. The region-specific component of labor demand shock has shorter-lived effects on unemployment and participation, but its effect on employment is permanent. Conversely, total shocks leave no permanent effect. Migration is more important in the region-specific case where, after a few years, it acquires a large role in the adjustment process. [source]

The Backward,Bending Phillips Curve And The Minimum Unemployment Rate Of Inflation: Wage Adjustment With Opportunistic Firms

THE MANCHESTER SCHOOL, Issue 1 2003
Thomas I. PalleyArticle first published online: 12 FEB 200
This paper presents a theory of the backward,bending Phillips curve. There is aminimum unemployment rate of inflation which offers a policy alternative to the non,accelerating inflation rate of unemployment. Nominal wages are downwardly rigid because workers oppose cuts initiated from within the employment relation. Instead, workers may acceptreal wage adjustments effected by increases in the general price level, a variableoutside individual firms' control. This is why inflation ,greases'labor market adjustment. However, workers resist too rapid a real wage adjustment,and too high an inflation generates wage resistance that cancels the grease effect and increases unemployment. [source]