Essays on New Labor Market Dynamics: Market and Policy Adjustment Mechanisms

Título: Essays on New Labor Market Dynamics: Market and Policy Adjustment Mechanisms

Autor: Javier García-Clemente

Supervisores: Nicola Rubino y Emilio Congregado

Universidad: Universidad Internacional de Andalucía

Fecha de defensa: 27/09/2024

Comité: Jesús Crespo Cuaresma (Vienna University), Carlos García Serrano (Universidad de Alcalá) y Concepción Román (Universidad de Huelva)

Calificación: Sobresaliente Cum Laude, Mención Internacional

Disponible: http://www.uhu.es/decofin/wp-content/uploads/Thesis_draft.pdf

This dissertation presents a collection of essays in the field of labor economics, investigating recent labor market trends and adjustment mechanisms through both market-driven and policy-oriented tools. In particular, it focuses on the study of two phenomena: (I) the dynamics and mechanisms behind the rise and persistence of involuntary part-time work as a source of hidden underemployment and labor slack in the intensive margin; and (II) the effectiveness of job retention schemes as policy instruments for cushioning the impact of adverse shocks to employers and employees, relieving scarring labor adjustment costs in times of crisis. A wide range of micro and macro econometric methods on different data sources are combined to empirically address these questions. The findings emphasize the persistent nature of involuntary part-time employment in response to shocks, which leads to scarring labor misallocation with harmful consequences to the workers and the overall economy, and the important role of labor market institutions in the driving mechanisms of underemployment. Additionally, the results highlight the effectiveness of job retention policies in supporting firm survival and workers’ employment outcomes during economic crises, thereby facilitating market adjustment and mitigating the significant costs of sudden economic shocks. In summary, this thesis contributes to the understanding of labor market dynamics related to underemployment and job retention mechanisms, providing valuable insight for informed policy-making.