Institutions and Structural Unemployment: Do Capital-Market Imperfections Matter? CES Germany & Europe Working Papers, No. 00.8, December 2000

This paper analyzes whether differences in institutional structures on capital markets contribute to explaining why some DECO-countries, in particular the Anglo-Saxon countries, have been much more successful over the last two decades in producing employment growth and in reducing unem­ployment than most continental-European DECO-countries. It is argued that the often-blamed labor market rigidities alone, while important, do not provide a satisfactory explanation for these differ­ences across countries and over time. Financial constraints are potentially important obstacles against creating new firms and jobs and thus against coping well with structural change and against moving successfully toward the "new economy". Highly developed venture capital markets should help to alleviate such financial constraints. This view that labor-market institutions should be sup­plemented by capital market imperfections for explaining differences in employment performances is supported by our panel data analysis, in which venture capital turns out to be a significant insti­tutional variable.

Labor clauses in regional trade agreements and effects on labor conditions : an empirical analysis

An increasing number of bilateral or plurilateral trade agreements (or regional trade agreements: RTAs) include "labor clauses" that require or urge the signatory countries to commit to maintaining a certain level of labor standards. This paper performs an empirical analysis of the impacts of such labor clauses provided in RTAs on working conditions that laborers in the RTA signatory countries actually face, using macro-level data for a wide variety of countries. The paper first examines the texts of labor provisions in more than 220 effective RTAs and (re-)classifies "RTAs with labor clauses" according to two criteria: (i) the agreement urges or expects the signatory countries to harmonize their domestic labor standards with internationally recognized standards, and (ii) the agreement stipulates the procedures for consultations and/or dispute settlement on labor-condition issues between the signatory countries. Based on this labor-clause RTA classification, the paper estimates the impacts of RTA labor clauses on working conditions in countries with two empirical specifications using the sample covering 136 countries or economies and years from 1995 through 2011. The estimation is extended to takes into account possible lags in the labor-condition effects of labor clauses as well as to consider potential difference in the impacts for countries in different income levels. The empirical results for the four measures of labor conditions (mean monthly real earnings, mean weekly work hours per employee, fatal occupational injury rate, and the number of the ILO's Core Conventions ratified) find no evidence for possible pro-labor-condition effects of RTA labor clauses overall, which should be consistent with the view of economics literature that questions the relevance of linking trade policy with issues in the domestic labor standards.

Labor and industry.

Vol. 2, no. 5, May 1915, erroneously numbered v. 2, no. 4.

County & municipal labor force report, 1991-2000.

Geographic area includes Adams, Kane, Kankakee, Tazewell, Union, and Woodford Counties, and Addison, Maywood, Moline and Woodridge municipal areas in Illinois.

Summary of the labor situation in Ceylon /

"April 1957."

Summary of the labor situation in Greece /

"December 1955."

The labor situation in Pakistan /

"June 1956."

Summary of the labor situation in Chile /

"January 1956."

Summary of the labor situation in Liberia /

"November 1959."

Summary of the labor situation in South Korea /

"October 1955."

Comparative labor force statistics : ten countries, 1959-1991 /

Chiefly tables.

Labor shortage case studies /

Report prepared by John W. Trutkow of James Bell Associates and Burt S. Barnow, Any B. Chasanov, and Abhay Pande of Lewin-ICF under Dept. of Labor contract no. 99-9-4701-75-077-01.

Historical report on labor force and unemployment.

Description based on: 05/14/85; title from caption.

Civilian labor force estimates for Maine and its substate areas.

"A statistical data series developed by the Labor Market Evaluation and Planning Section."

Maine civilian labor force estimates.

"A statistical data series publication of the Economic and Demographic Research Group."