Peter T. Chinloy and Ernst W. Stromsdorfer I. Background to Adjustments in Labor Markets The book examines the process of adjustment in labor markets across countries arising from external shocks and shifts in international competi- tiveness. The examination of specific countries and their data permits a comparison of alternative institutions for compensating and redeploying labor. Four countries are involved, whose labor markets are both competi- tive and complementary: Canada, Japan, Mexico, and the United States. Both public labor market institutions, such as direct government com~ pensation of displaced workers and the effect of unemployment insurance, and private market arrangements, such as em loyer-employee agreements on layoffs, the work contract, and severance pay, are considered. Compara- tive examination across countries of labor market and related insitutions is thus possible. The book has a common theme, namely the adjustment of labor markets to exogenous shocks, particularly those externally induced. The unifying focus in on workers whose specific skills in an industry or firm render them relatively immobile.
1 Introduction.- I Theoretical Framework: Institutions and the Labor Market.- 2 A Comparison of Labor Market Equilibria Under Different Institutional Organizations.- II Observed Dislocation: International Comparisons.- 3 Wage Flexibility in the United States and Japan.- 4 The Impact of International Trade Shocks on Wage Adjustments in Canada.- 5 Japanese Redundancy: The Impact of Key Labor Market Institutions on the Economic Flexibility of the Japanese Economy.- 6 The Impact of Mexican Migration on the United States and Mexican Economies and Labor Markets.- III Domestic and International Shocks: Effects on Employment and Wages.- 7 Wage and Employment Adjustments and the Efficiency Wage Hypothesis: An Application to the Japanese Manufacturing Sector.- 8 The Collective Impact of Sectoral Shocks on Aggregate Employment Fluctuations.- IV Compensation of Displaced Workers.- 9 Job Security Versus Income Security.- 10 Compensating Displaced Workers-What, How Much, How?.
Number Of Pages: 270
Published: December 2009
Publisher: Kluwer Academic Publishers
Country of Publication: US
Dimensions (cm): 23.5 x 15.5
Weight (kg): 1.28