Youth Employment in Europe: Institutions and Social Capital Explain Better than Mainstream Economics
AbstractWhy did employment growth - high in the last decade– take place at the expense of young workers in the countries of Central and Southern Europe ? This is the question addressed in this paper. Youth unemployment has approached or exceeded 20% despite a variety of factors, common to most EU countries. According to neo-classical economics all would be expected to exert a positive impact on its evolution: population ageing and the demographic decline, low labor cost of young workers, flexibility of working arrangements, higher educational attainment, low unionization of young workers, early retirement practices of workers 50+. But neither seems to provide a convincing explanation. Historically based institutions and political tradition, cultural values, social capital – factors that go beyond the standard explanation of economic theory – provide a more satisfying interpretation.
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Bibliographic InfoPaper provided by LABORatorio R. Revelli, Centre for Employment Studies in its series LABORatorio R. Revelli Working Papers Series with number 97.
Date of creation: 2009
Date of revision:
youth employment; unemployment; social capital; institutions.;
Other versions of this item:
- Contini, Bruno, 2010. "Youth Employment in Europe: Institutions and Social Capital Explain Better than Mainstream Economics," IZA Discussion Papers 4718, Institute for the Study of Labor (IZA).
- Bruno Contini, 2010. "Youth Employment in Europe: Institutions and Social Capital Explain Better than Mainstream Economics," LABORatorio R. Revelli Working Papers Series 102, LABORatorio R. Revelli, Centre for Employment Studies.
- J - Labor and Demographic Economics
- J0 - Labor and Demographic Economics - - General
- J1 - Labor and Demographic Economics - - Demographic Economics
- J6 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-01-30 (All new papers)
- NEP-EUR-2010-01-30 (Microeconomic European Issues)
- NEP-HPE-2010-01-30 (History & Philosophy of Economics)
- NEP-LAB-2010-01-30 (Labour Economics)
- NEP-SOC-2010-01-30 (Social Norms & Social Capital)
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