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Patterns of Unemployment: An Insider-Outsider Analysis

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  • Lindbeck, Assar
  • Snower, Dennis J.

Abstract

The paper presents a stochastic insider-outsider model that accounts for the following stylized facts: (1) unemployment rates display a high degree of serial correlation, or `persistence'; (2) the average rate of unemployment has been higher in the United States than in Europe over the 1950s and 1960s, but the opposite has been the case in the 1980s; and (3) the long-run unemployment rate is independent of the level of productivity and the magnitude of the labour force. The model also generates other empirically testable hypotheses, concerning cyclical variations in unemployment persistence, the influence of firing costs and the `discouraged worker' effect on unemployment persistence, and the effect of barriers to the entry of firms on the long-run unemployment rate.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 960.

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Date of creation: Jul 1994
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Handle: RePEc:cpr:ceprdp:960

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Related research

Keywords: Insiders; Labour Force; Outsiders; Persistence; Productivity; Unemployment;

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Cited by:
  1. Muysken, Joan & Zwick, Thomas, 2000. "Wage divergence and unemployment: the impact of insider power and training costs," ZEW Discussion Papers 00-37, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  2. Peijie Wang, 2003. "Cycles and Common Cycles in Property and Related Sectors," International Real Estate Review, Asian Real Estate Society, vol. 6(1), pages 22-42.
  3. Mike Campbell, 2000. "Reconnecting the Long Term Unemployed to Labour Market Opportunity: The Case for a 'Local Active Labour Market Policy'," Regional Studies, Taylor & Francis Journals, vol. 34(7), pages 655-668.

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