Market failure

Labor Market Institutions – High unemployment rates have weakened the prime facie case for deregulation and less intervention

Labor Market Institutions: A Review of the Literature by Gordon Betcherman on worldbank.org looks at the findings of over 150 studies on the impacts of four types of labor market institutions: minimum wages, employment protection regulation, unions and collective bargaining, and mandated benefits. The review places particular emphasis on  results from developing countries. Impacts studied are … Continue reading →