Coping with creative destruction: Reducing the costs of firm exit
A policy framework that does not unduly inhibit the creative destruction process is vital to sustaining productivity growth. Yet, a key question is what happens to workers who lose their jobs due to this process and what are the policies that minimise the costs of worker displacement? Accordingly, t...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2017
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| Schriftenreihe: | OECD Economics Department Working Papers
no.1353 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | A policy framework that does not unduly inhibit the creative destruction process is vital to sustaining productivity growth. Yet, a key question is what happens to workers who lose their jobs due to this process and what are the policies that minimise the costs of worker displacement? Accordingly, this paper exploits a retrospective panel of workers in 13 European countries over the period 1986-2008 to explore the factors which shape the re-employment prospects of workers displaced due to firm exit. The results suggest that higher spending on active labour market policies (ALMPs), financed through an offsetting reduction in spending on passive measures, can aid the re-employment prospects of displaced workers. There may also be a case to better tailor ALMPs to workers displaced by firm exit to the extent that the re-employment probabilities of this group of workers are more sensitive to ALMPs than workers that are displaced for other involuntary reasons. The effectiveness of ALMPs is also enhanced by lower entry barriers in product markets and higher public sector efficiency, while reductions in the labour tax wedge can aid the re-employment prospects of displaced workers. Finally, regional mobility emerges as a key channel through which workers who lose their job due to plant closure become re-employed, suggesting that housing market policies may also be relevant. |
| Beschreibung: | 1 Online-Ressource (39 p.) |
| DOI: | 10.1787/bbb44644-en |
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| spelling | Andrews, Dan VerfasserIn aut Coping with creative destruction Reducing the costs of firm exit Dan, Andrews and Alessandro, Saia = Accompagner la destruction créatrice : Réduire les coûts liés aux fermetures d'entreprises. / Dan, Andrews et Alessandro, Saia Accompagner la destruction créatrice Paris OECD Publishing 2017 1 Online-Ressource (39 p.) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1353 A policy framework that does not unduly inhibit the creative destruction process is vital to sustaining productivity growth. Yet, a key question is what happens to workers who lose their jobs due to this process and what are the policies that minimise the costs of worker displacement? Accordingly, this paper exploits a retrospective panel of workers in 13 European countries over the period 1986-2008 to explore the factors which shape the re-employment prospects of workers displaced due to firm exit. The results suggest that higher spending on active labour market policies (ALMPs), financed through an offsetting reduction in spending on passive measures, can aid the re-employment prospects of displaced workers. There may also be a case to better tailor ALMPs to workers displaced by firm exit to the extent that the re-employment probabilities of this group of workers are more sensitive to ALMPs than workers that are displaced for other involuntary reasons. The effectiveness of ALMPs is also enhanced by lower entry barriers in product markets and higher public sector efficiency, while reductions in the labour tax wedge can aid the re-employment prospects of displaced workers. Finally, regional mobility emerges as a key channel through which workers who lose their job due to plant closure become re-employed, suggesting that housing market policies may also be relevant. Employment Economics Saia, Alessandro MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/bbb44644-en Volltext |
| spellingShingle | Andrews, Dan Coping with creative destruction Reducing the costs of firm exit Employment Economics |
| title | Coping with creative destruction Reducing the costs of firm exit |
| title_alt | Accompagner la destruction créatrice |
| title_auth | Coping with creative destruction Reducing the costs of firm exit |
| title_exact_search | Coping with creative destruction Reducing the costs of firm exit |
| title_full | Coping with creative destruction Reducing the costs of firm exit Dan, Andrews and Alessandro, Saia = Accompagner la destruction créatrice : Réduire les coûts liés aux fermetures d'entreprises. / Dan, Andrews et Alessandro, Saia |
| title_fullStr | Coping with creative destruction Reducing the costs of firm exit Dan, Andrews and Alessandro, Saia = Accompagner la destruction créatrice : Réduire les coûts liés aux fermetures d'entreprises. / Dan, Andrews et Alessandro, Saia |
| title_full_unstemmed | Coping with creative destruction Reducing the costs of firm exit Dan, Andrews and Alessandro, Saia = Accompagner la destruction créatrice : Réduire les coûts liés aux fermetures d'entreprises. / Dan, Andrews et Alessandro, Saia |
| title_short | Coping with creative destruction |
| title_sort | coping with creative destruction reducing the costs of firm exit |
| title_sub | Reducing the costs of firm exit |
| topic | Employment Economics |
| topic_facet | Employment Economics |
| url | https://doi.org/10.1787/bbb44644-en |
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