Arbeitspapier
Job duration and inequality
As suggested by recent empirical evidence, one of the causes behind the widespread rise of inequality experienced by OECD countries in the last few decades may have been the increased flexibility of labor markets. The authors explore this hypothesis through the analysis of a stock-flow consistent agent-based macroeconomic model able to reproduce with good statistical precision several empirical regularities. To this scope they employ three different sensitivity analysis techniques, which indicate that increasing job contract duration (i.e. decreasing flexibility) has the effect of reducing income and wealth inequality. However, the authors also find that this effect is diminished by tight monetary policy and low credit supply. This result suggests that the final outcome of structural reforms aimed at changing labor flexibility can depend on the macroeconomic environment in which these are implemented.
- Sprache
-
Englisch
- Erschienen in
-
Series: Economics Discussion Papers ; No. 2019-44
- Klassifikation
-
Wirtschaft
Statistical Simulation Methods: General
Computational Techniques; Simulation Modeling
Personal Income, Wealth, and Their Distributions
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Labor Economics: General
Labor Contracts
- Thema
-
economic inequality
labor market flexibility
monetary policy
agent-basedmodels
sensitivity analysis
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Chen, Siyan
Desiderio, Saul
- Ereignis
-
Veröffentlichung
- (wer)
-
Kiel Institute for the World Economy (IfW)
- (wo)
-
Kiel
- (wann)
-
2019
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Chen, Siyan
- Desiderio, Saul
- Kiel Institute for the World Economy (IfW)
Entstanden
- 2019
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