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External numerical flexibility is the adjustment of the labour intake, or the number of workers from the external market. This can be achieved by employing workers on temporary work or fixed-term contracts or through relaxed hiring and firing regulations or in other words relaxation of employment protection legislation, where employers can hire and fire permanent employees according to the ...
High market tightness indicates relatively low liquidity and high transaction costs, whereas low market tightness indicates high liquidity and low transaction costs. [2] For example, during the dotcom bubble , information technology companies were very difficult and expensive to buy a part of, through stock, loan, or other methods, due to the ...
An economic union is a type of trade bloc which is composed of a common market with a customs union. [1] The participant countries have both common policies on product regulation, freedom of movement of goods , services and the factors of production ( capital and labour ) as well as a common external trade policy.
Labour economics, or labor economics, seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers , usually in exchange for a wage paid by demanding firms.
The current state of economic play can be accurately summarized using an artful (at least I’d like to think) paraphrase of Winston Churchill. In 1939, the historic wartime leader famously ...
Changes in the inflation level may be the result of several factors. Too much aggregate demand in the economy will cause an overheating, raising inflation rates via the Phillips curve because of a tight labor market leading to large wage increases which will be transmitted to increases in the price of the products of employers. Too little ...
"Labor market conditions remain very strong, and the economy is returning to a better balance between the demand for and supply of workers," Fed Chair Jerome Powell said in a speech on Dec. 1.
Across the world, many countries are facing a rapidly aging population. This, combined with declining birth rates in these markets, will lead to long-term workforce worries, and in turn, serious ...