Friday, October 18, 2013
My VoxEU post with Olivier Blanchard and Florence Jaumotte tries to move beyond ritual invocation of the mantra of “labor market flexibility.” We develop the concepts of “micro” and “macro flexibility”; explain why they are needed; what labor market institutions help or hinder micro and macro flexibility; and assess IMF advice against the backdrop of these concepts. The Staff Discussion Note on which our post is based is available here.
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