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labour market flexibility
Labour market flexibility refers to the speed with which labour markets adapt to fluctuations and changes in society, the economy or production.
==Definition==
The most common definition of labour market flexibility has been the neo-liberal definition. This entailed the ease of labour market institutions in enabling labour markets to reach a continuous equilibrium determined by the intersection of the demand and supply curve.〔Standing, 1989; Jimeno and Tohara, 1994〕 In the words of Siebert,〔Siebert, 1997: 43〕 labour market institutions were seen to inhibit "the clearing functions of the market by weakening the demand for labor, making it less attractive to hire a worker by explicitly pushing up the wage costs or by introducing a negative shadow price for labor; by distorting the labor supply; and by impairing the equilibrating function of the market mechanism (for instance, by influencing bargaining behavior)."
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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