By OECD. Published by : OECD Publishing
The 2003 version of this annual bestseller units out a brand new manifesto on jobs : Are employment profits registered in the past decade sustainable ? Are extra and higher jobs attainable? - To what volume are teams like ladies, older staff, and t
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Extra resources for OECD Employment Outlook: 2003 Edition: Towards More and Better Jobs (OECD Employment Outlook)
Skills mismatch may be a particular problem for the long-term unemployed, whose generic skills may have deteriorated from lack of use and/or specific job skills may not be transferable to prospective employers. A similar mismatch may affect young people leaving school without the skills required of them by the labour market. ● Employment protection legislation (EPL), which consists of the regulations determining the level of employment security, including rules for fixed-term contracts, temporary placement agencies and other forms of temporary employment, can affect matching efficiency.
However, the upward wage pressure exerted by unions may be offset where wage bargaining is co-ordinated across sectors or firms. Wage negotiations may be considered to be co-ordinated if the parties take into account the consequences of any wage settlement on the rest of the economy. Co-ordination can be achieved through centralization of bargaining at the national level, but centralization is not a necessary condition. Co-ordination can also be achieved where wages are negotiated at the industry level or enterprise level, through the presence of co-ordinating institutions, such as national trade union congresses and employers’ federations, which assist bargainers to act in concert (Ochel, 2000).
However, more formal statistical analysis is required to verify impressions based on “eye-balling” the data. Following Nickell et al. (2003), shifts in the Beveridge curve can be captured by the trend terms in a regression of the form: ln ut = α0 + α1ln ut–1 + α2 ln vt + α3t + α4t2 + α5t3 where u is the unemployment rate, v is the vacancy rate and t is a time trend. For example, a visual impression that the Beveridge curve has shifted to the left (right) would be confirmed if the regression estimates indicate a declining (increasing) time trend.