Danish for All? Balancing Flexibility with Security: The Flexicurity Model, Issues 2007-2036
The Danish flexicurity model has attracted attention among policymakers in Europe, because it suggests that a flexible labor market can coexist with a generous welfare system to achieve low unemployment. Using a panel of 19 countries over 1960-2002, the paper identifies the elements of the flexicurity model that may have contributed to the low unemployment rate. A theoretical model of dynamic policies is constructed to analyze whether the model can be emulated by other countries. Focusing on the financing aspect, the paper finds that effective implementation will depend on the initial unemployment level and budgetary situation of the country.
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active labor market almp benefits and active Blanchard and Wolfers capture criteria for unemployment current account deficit Danish flexicurity model Danish model degree of labor Denmark and Selected dynamics early retirement eligibility criteria employment effect employment protection legislation employment security European countries expenditure on active Figure finance fiscal flexibility e.g. flexible labor market growth high level high spending high unemployment rates impact income protection income security key policy elements labor income labor market flexibility labor market policies labor market programs labor market reforms large tax wedge Lieshout low unemployment rate Macroeconomic OECD data participation in active passive labor market percent of GDP period for participation plmp protection legislation EPL reduce the unemployment result Selected Countries simulation social security spending on active spending on labor steady-state unemployment rate stricter EPL structural unemployment rate Sweden unemployment benefits unemployment level Unemployment Performance United Kingdom wage flexibility wedge on labor Wilthagen yepl