Aspects of the Swiss Labor Market

January 1, 1996

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Format: Chicago

Paula De Masi, and S. G. B. Henry Aspects of the Swiss Labor Market, (USA: International Monetary Fund, 1996) accessed November 23, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper presents an analysis of the behavior of the Swiss labor market, which emphasizes both changes to labor supply and real wage inflexibility as determinants of recent unusually high levels of unemployment. Supply responses in the past meant that measured unemployment rates were rarely high. The paper suggests that these responses also meant that real wages were probably less responsive to shocks as a result. Econometric tests reported in the paper broadly confirm these suggestions, and imply that the level of unemployment consistent with stable inflation has risen in Switzerland.

Subject: Expenditure, Labor, Labor markets, Real wages, Unemployment, Unemployment benefits, Unemployment rate, Wages

Keywords: Europe, Labor markets, Modelling wage, Nominal wage, Phillips curve, Price equation, Price model, Real wages, Unemployment, Unemployment benefits, Unemployment rate, Wage behavior, Wage plan, WP

Publication Details

Pages:

28
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1996/003
Stock No:

WPIEA0031996
ISBN:

9781451841855
ISSN:

1018-5941

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