New developments in labour markets
During IBS conference New developments in labour markets we discussed our research on the mechanics behind the labor market reallocation and structural change in economies undergoing a transition from central planning to market economy.
There is possibly many ways to argue the opposite, but what we find is that these economies were really standard markets, even during the early years of transition. Yes, massive layoffs and public sector collapsing, but this was just like a regular crisis to the labor markets, not a specific transition crisis. Of course this holds only for the labor market flows and the mechanics of structural change.