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Labour market outcomes of different institutional regimes: evidence from the OECD countries

Le, Hang; Wood, Geoffrey; Yin, Shuxing

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Authors

Dr HANG LE HANG.LE@NOTTINGHAM.AC.UK
ASSOCIATE PROFESSOR

Geoffrey Wood

Shuxing Yin



Abstract

The rise of populism has been widely ascribed, at least in part, to an inability of national systems to generate decent employment or, indeed, stem its decline. This article explores the basis and nature of variations in labour market outcomes of different institutional regimes. For this comparative institutional analysis, we build indexes of labour market outcomes in the OECD countries, measuring actual cross-country variations and encompassing a much wider range of evidence in terms of countries and time periods covered than previous studies. We show that in terms of job availability and wages, the liberal market economies (LMEs) have advantages, but once involuntary part-time employment and wage inequality are considered, labour market outcomes appear superior in the continental European countries and the Scandinavia social democracies. However, any advantages of the LMEs appear to be diminishing since the global financial crisis. Compared with other regimes, Southern European and transitional economies have lower level of job availability and wage rates but are comparable in other aspects of the labour market.

Citation

Le, H., Wood, G., & Yin, S. (2021). Labour market outcomes of different institutional regimes: evidence from the OECD countries. Cambridge Journal of Economics, 45(1), 85-108. https://doi.org/10.1093/cje/beaa021

Journal Article Type Article
Acceptance Date May 15, 2020
Online Publication Date Jul 13, 2020
Publication Date Jan 1, 2021
Deposit Date Aug 13, 2020
Publicly Available Date Jul 14, 2022
Journal Cambridge Journal of Economics
Print ISSN 0309-166X
Electronic ISSN 1464-3545
Publisher Oxford University Press
Peer Reviewed Peer Reviewed
Volume 45
Issue 1
Pages 85-108
DOI https://doi.org/10.1093/cje/beaa021
Keywords Labour market outcomes; Varieties of Capitalism; employment; gender wage gap; wage inequality; financial crisis JEL: J20; J30; D02
Public URL https://nottingham-repository.worktribe.com/output/4829335
Publisher URL https://academic.oup.com/cje/advance-article-abstract/doi/10.1093/cje/beaa021/5870532?redirectedFrom=fulltext
Additional Information This is a pre-copyedited, author-produced version of an article accepted for publication in Cambridge Journal of Economics following peer review. The version of record, Hang Le, Geoffrey Wood, Shuxing Yin, Labour market outcomes of different institutional regimes: evidence from the OECD countries, Cambridge Journal of Economics, , beaa021, is available online at: https://academic.oup.com/cje/advance-article-abstract/doi/10.1093/cje/beaa021/5870532?redirectedFrom=fulltext.

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