Labour Market Flexibility – Impact on the Economy

There is a widespread consensus among mainstream economists that more labour market flexibility (like in the US) is more likely to be associated with better economic performance because of the more fertile ground for innovation and productivity compared to the welfare states of Europe where labour market has a stricter feature (See Chart 1). As Sapir noted: “The stricter the employment protection legislation of a mod
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From the 1800s to the Future – Forecasts and Fiscal Institutions

Kovács, O. (2010): From the 1800s to the Future – Forecasts and Fiscal Institutions. News of the Month, ICEG European Center, November 2010 pp. 4-9. Our article attempts to illustrate whether the use of fiscal institutions (e.g. independent fiscal councils) of certain European countries are taken into account by fiscal position-related forecasts reflecting that these institutionalisations positively affect the progno
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