Article ID Journal Published Year Pages File Type
10479257 Journal of Policy Modeling 2005 10 Pages PDF
Abstract
We discuss the effect of an adoption of the EU acquis communautaire on future labor market performance in the CEECs. For this purpose, we model and investigate the impact of institutional uncertainty (and its elimination) on job creation and job destruction in these countries. We conclude that the structural change on CEEC labor markets is fostered via reducing institutional uncertainty. However, the adoption of inefficient EU social and labor policy regulations might also entail significant risks for employment. Based on a real option value analysis, we investigate and evaluate the trade-off between lower institutional uncertainty and higher employment costs.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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