Research objectives and content:
The expansion-contraction impulses on the economical system can produce different employment-hours paths, depending on the adjustment costs structure faced by firms. These costs are determined by the institutional configuration of the labour markets. The aim of the research project is the identification and quantification of the impact of the different institutional variables on the employment and hours dynamics in each phase of the cycle. This can explain, for example, which are the features of continental Europe labour markets that are responsible for the reduction of the employment rise during an expansion phase, especially if compared to the performances of the Anglo-Saxon economies. Besides the analysis will show which institutional labour market configuration is likely to increase the speed of adjustment of employment to output, during the same expansion reducing the social loss associated to the recessive phase of the cycle. The approach followed will be Panel Data Analysis using aggregate as well as sectoral OECD data. To measure the impact of labour market regulations on the employment-hours dynamics in the economy considered as a whole as well as in different sectors
Training content (objective, benefit and expected impact)
It is my objective to obtain the academic grade Doctor of Philosophy of the University of Oxford. Continuing to benefit the excellent research and training environment of the university as I experimented it during my MPhil course. In addition, I will have the opportunity to work with Prof. Steven Nickell one of the major experts on the subject reinforcing my knowledge of empirical economics techniques and Labour Economics. This research itself is the first attempt to study the dynamical relations of labour market institutions and employment over the cycle, and therefore will lead to new insights into the efficient institutional design of European labour markets, in relation to the problems of unemployment and economic performance.
Links with industry / industrial relevance (22)