Exploring Institutional Practices to Achieve Resonance Type——A Study on Fairly Oriented Labor Regulations and Labor Force Allocation Efficiency
Analyzing the policy trajectory for improving labor market efficiency within the framework of the synergistic resonance between"fairness"and"efficiency",this study examines the impact of labor regulations on labor allocation efficiency by constructing a dual difference model with the Labor Contract Law as an exogenous shock.The research reveals that,on one hand,labor regulations enhance labor allocation efficiency by correcting wage distortions(positive effect).On the other hand,labor regulations restrict the external flexibility of the labor market,thereby diminishing labor allocation efficiency(negative effect).When considering the overall effect,labor regulations still exhibit a negative impact on labor allocation efficiency.This is primarily due to the varying influence of these regulatory systems on labor forces with different skill biases,leading to further widening income disparities across different skill levels.By implementing tailored adjustment mechanisms in regions with low levels of labor skills,the study distinguishes"vulnerable regions"based on their high or low decision-making flexibility.The results indicate that in the vulnerable regions with higher flexibility,the positive effect remains significant while the negative effect becomes ineffective.However,in vulnerable regions with lower flexibility,the opposite conclusion is drawn.Based on these research findings,policy recommendations are proposed to institutionalize and legalize the synergistic resonance of"efficiency"and"fairness"for labor allocation.
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