Burgess, Simon and Mawson, Dan (2003) Aggregate growth and the efficiency of labour reallocation. CEPDP, 580. Centre for Economic Performance, London School of Economics and Political Science, London, UK. ISBN 0753016419
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Abstract
We consider the potential importance of labour market efficiency for aggregate growth. The idea is that efficient labour markets move workers more quickly from low to high productivity sites, thereby raising aggregate productivity growth. We define a measure of labour market efficiency as a structural parameter from a matching function. Using labour market data on 15 OECD countries, we estimate this and show that it has a significant effect on growth. The results are robust to a number of different estimation techniques. The quantitative impact of market efficiency is not trivial.
| Item Type: | Monograph (Discussion Paper) |
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| Official URL: | http://cep.lse.ac.uk |
| Additional Information: | © 2003 the authors |
| Uncontrolled Keywords: | growth, labour market efficiency, labour market institutions |
| Library of Congress subject classification: | H Social Sciences > HD Industries. Land use. Labor |
| Journal of Economic Literature Classification System: | O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O40 - General J - Labor and Demographic Economics > J6 - Mobility, Unemployment, and Vacancies > J63 - Turnover; Vacancies; Layoffs |
| Sets: | Collections > Economists Online Research centres and groups > Centre for Economic Performance (CEP) |
| Rights: | http://www.lse.ac.uk/library/rights/LSERO.htm |
| Identification Number: | 580 |
| URL: | http://eprints.lse.ac.uk/20036/ |
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