Catastrophic Job Destruction:
In this article we study the resilience of the Portuguese labor market, in terms of job flows, employment and wage developments, in the context of the current recession. We single out the huge contribution of job destruction, especially due to the closing of existing firms, to the dramatic decline o...
Gespeichert in:
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| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2013
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| Schriftenreihe: | OECD Social, Employment and Migration Working Papers
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| Schlagworte: | |
| Online-Zugang: | UBA01 UBG01 UEI01 UER01 UPA01 UBR01 UBW01 FFW01 FNU01 EUV01 FRO01 FHR01 FHN01 TUM01 FHI01 UBM01 Volltext |
| Zusammenfassung: | In this article we study the resilience of the Portuguese labor market, in terms of job flows, employment and wage developments, in the context of the current recession. We single out the huge contribution of job destruction, especially due to the closing of existing firms, to the dramatic decline of total employment and increase of the unemployment rate. We also document the very large increase in the incidence of minimum wage earners and nominal wage freezes. We explored three different channels that may have amplified the employment response to the great recession: the credit channel, the wage rigidity channel, and the labor market segmentation channel. We uncovered what we believe is convincing evidence that the severity of credit constraints played a significant role in the current job destruction process. Wage rigidity is seen to be associated with lower net job creation and higher failure rates of firms. Finally, labor market segmentation seemed to have favored a stronger job destruction that was facilitated by an increasing number of temporary workers |
| Beschreibung: | 1 Online-Ressource (43 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5k408hxxg20x-en |
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| spelling | Carneiro, Anabela Verfasser aut Catastrophic Job Destruction Anabela Carneiro, Pedro Portugal and Jose Varejão Paris OECD Publishing 2013 1 Online-Ressource (43 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Social, Employment and Migration Working Papers In this article we study the resilience of the Portuguese labor market, in terms of job flows, employment and wage developments, in the context of the current recession. We single out the huge contribution of job destruction, especially due to the closing of existing firms, to the dramatic decline of total employment and increase of the unemployment rate. We also document the very large increase in the incidence of minimum wage earners and nominal wage freezes. We explored three different channels that may have amplified the employment response to the great recession: the credit channel, the wage rigidity channel, and the labor market segmentation channel. We uncovered what we believe is convincing evidence that the severity of credit constraints played a significant role in the current job destruction process. Wage rigidity is seen to be associated with lower net job creation and higher failure rates of firms. Finally, labor market segmentation seemed to have favored a stronger job destruction that was facilitated by an increasing number of temporary workers Employment Social Issues/Migration/Health Portugal Portugal, Pedro ctb Varejão, Jose ctb https://doi.org/10.1787/5k408hxxg20x-en Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Carneiro, Anabela Catastrophic Job Destruction Employment Social Issues/Migration/Health Portugal |
| title | Catastrophic Job Destruction |
| title_auth | Catastrophic Job Destruction |
| title_exact_search | Catastrophic Job Destruction |
| title_exact_search_txtP | Catastrophic Job Destruction |
| title_full | Catastrophic Job Destruction Anabela Carneiro, Pedro Portugal and Jose Varejão |
| title_fullStr | Catastrophic Job Destruction Anabela Carneiro, Pedro Portugal and Jose Varejão |
| title_full_unstemmed | Catastrophic Job Destruction Anabela Carneiro, Pedro Portugal and Jose Varejão |
| title_short | Catastrophic Job Destruction |
| title_sort | catastrophic job destruction |
| topic | Employment Social Issues/Migration/Health Portugal |
| topic_facet | Employment Social Issues/Migration/Health Portugal |
| url | https://doi.org/10.1787/5k408hxxg20x-en |
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