De-Globalization, Welfare State Reforms and Labor Market Outcomes

Within an open economy framework characterized by vertical linkages in production, and search frictions with two-sided heterogeneity in the labor market, raising trade barriers is shown to increase unemployment across skill levels and to reduce labor market participation and aggregate income. These...

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Detalles Bibliográficos
Autores principales: Molana, Hassan, Montagna, Catia, Onwordi, George E.
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Palgrave Macmillan UK 2021
Materias:
Research Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8542920/
http://dx.doi.org/10.1057/s41308-021-00150-8
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author Molana, Hassan
Montagna, Catia
Onwordi, George E.
author_facet Molana, Hassan
Montagna, Catia
Onwordi, George E.
author_sort Molana, Hassan
collection PubMed
description Within an open economy framework characterized by vertical linkages in production, and search frictions with two-sided heterogeneity in the labor market, raising trade barriers is shown to increase unemployment across skill levels and to reduce labor market participation and aggregate income. These effects are not necessarily moderated by maintaining frictionless mobility of capital across borders. We find that a flexicurity reform of a liberal welfare state can dampen the adverse effects of de-globalization.
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spelling pubmed-85429202021-10-25 De-Globalization, Welfare State Reforms and Labor Market Outcomes Molana, Hassan Montagna, Catia Onwordi, George E. IMF Econ Rev Research Article Within an open economy framework characterized by vertical linkages in production, and search frictions with two-sided heterogeneity in the labor market, raising trade barriers is shown to increase unemployment across skill levels and to reduce labor market participation and aggregate income. These effects are not necessarily moderated by maintaining frictionless mobility of capital across borders. We find that a flexicurity reform of a liberal welfare state can dampen the adverse effects of de-globalization. Palgrave Macmillan UK 2021-10-25 2021 /pmc/articles/PMC8542920/ http://dx.doi.org/10.1057/s41308-021-00150-8 Text en © International Monetary Fund 2021 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Research Article
Molana, Hassan
Montagna, Catia
Onwordi, George E.
De-Globalization, Welfare State Reforms and Labor Market Outcomes
title De-Globalization, Welfare State Reforms and Labor Market Outcomes
title_full De-Globalization, Welfare State Reforms and Labor Market Outcomes
title_fullStr De-Globalization, Welfare State Reforms and Labor Market Outcomes
title_full_unstemmed De-Globalization, Welfare State Reforms and Labor Market Outcomes
title_short De-Globalization, Welfare State Reforms and Labor Market Outcomes
title_sort de-globalization, welfare state reforms and labor market outcomes
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8542920/
http://dx.doi.org/10.1057/s41308-021-00150-8
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