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Youth Unemployment in the OECD: Demographic Shifts, Labour Market Institutions and Macroeconomic Shocks

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Author Info
Juan F. Jimeno (Fundación de Estudios de Economía Aplicada, FEDEA)
Diego Rodríguez-Palenzuela (European Central Bank)

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Abstract

We use a panel of OECD countries to gauge the relevance of the relative size of the youth population, labour market institutions and macroeconomic shocks at explaining observed relative youth unemployment rates. We find that the fluctuations of the youth population size caused by the baby boom of the 1950s and 1960s and the subsequent decline of fertility in many European countries are positively associated with fluctuations in relative youth unemployment rates. We also find that some labour market institutions contribute to increase youth unemployment, and that the adjustment to macroeconomic shocks has affected relatively more to young workers than to adult workers. To motivate the effects of institutions on the relative unemployment rate of young workers, we lay out a simple theoretical model that builds on the imperfect substitutability of workers of different ages, and on the non-allocative role of (age specific) wages.

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Publisher Info
Paper provided by European Network of Economic Policy Research Institutes in its series Economics Working Papers with number 019.

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Length: 55 pages
Date of creation: Mar 2003
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Handle: RePEc:epr:enepwp:019

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Related research
Keywords: youth unemployment; labour supply; labour market institutions;

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Find related papers by JEL classification:
J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Sanders Korenman & David Neumark, 2000. "Cohort Crowding and Youth Labor Markets (A Cross-National Analysis)," NBER Chapters, in: Youth Employment and Joblessness in Advanced Countries, pages 57-106 National Bureau of Economic Research, Inc. [Downloadable!]
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  2. Juan J. Dolado & Florentino Felgueroso & Juan F. Jimeno, . "Female Employment and Occupational Changes in the 1990s: How is the EU Performing Relative to the US?," Working Papers 2000-18, FEDEA. [Downloadable!]
    Other versions:
  3. Bentolila, S. & Ichino, A., 2000. "Unemployment and Consumption: are Job Losses Less Painful Near the Mediterranean?," Papers 0010, Centro de Estudios Monetarios Y Financieros-.
    Other versions:
  4. Belot, M.V.K. & Ours, J. C. van, 2000. "Does the recent success of some OECD countries in lowering their unemployment rates lie in the clever design of their labour market reforms?," Discussion Paper 40, Tilburg University, Center for Economic Research. [Downloadable!]
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  5. Jimeno, Juan F. & Bentolila, Samuel, 1998. "Regional unemployment persistence (Spain, 1976-1994)," Labour Economics, Elsevier, vol. 5(1), pages 25-51, March. [Downloadable!] (restricted)
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  6. Nickell, S. & Layard, R., 1997. "Labour Market Institutions and Economic Performance," Papers 23, Centre for Economic Performance & Institute of Economics.
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  7. Jordi Gali, 1999. "Technology, Employment, and the Business Cycle: Do Technology Shocks Explain Aggregate Fluctuations?," American Economic Review, American Economic Association, vol. 89(1), pages 249-271, March. [Downloadable!] (restricted)
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  8. Steve Nickell & Jan van Ours, 2000. "The Netherlands and the United Kingdom: a European unemployment miracle?," Economic Policy, CEPR, CES, MSH, vol. 15(30), pages 135-180, 04. [Downloadable!] (restricted)
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  9. Courtney Coile & Jonathan Gruber, 2000. "Social Security and Retirement," NBER Working Papers 7830, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  10. Lawrence M. Kahn, 2000. "Wage Inequality, Collective Bargaining, And Relative Employment From 1985 To 1994: Evidence From Fifteen Oecd Countries," The Review of Economics and Statistics, MIT Press, vol. 82(4), pages 564-579, November. [Downloadable!] (restricted)
  11. Bertola, Giuseppe & Blau, Francine D & Kahn, Lawrence, 2001. "Comparative Analysis of Labour Market Outcomes: Lessons for the US from International Long-Run Evidence," CEPR Discussion Papers 3023, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  12. Robert Shimer, 2001. "The Impact Of Young Workers On The Aggregate Labor Market," The Quarterly Journal of Economics, MIT Press, vol. 116(3), pages 969-1007, August. [Downloadable!] (restricted)
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  13. Blanchard, Olivier & Wolfers, Justin, 2000. "The Role of Shocks and Institutions in the Rise of European Unemployment: The Aggregate Evidence," Economic Journal, Royal Economic Society, vol. 110(462), pages C1-33, March. [Downloadable!] (restricted)
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  14. Dolado, Juan J. & Felgueroso, Florentino & Jimeno, Juan Francisco, 2000. "Explaining Youth Labour Market Problems In Spain: Crowding-Out, Institutions, Or Technology Shifts?," CEPR Discussion Papers 2398, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  15. Juan José Dolado & Carlos García-Serrano & Juan F. Jimeno, . "Drawing Lessons from the Boom of Temporary Jobs in Spain," Working Papers 2001-11, FEDEA. [Downloadable!]
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  16. Lupi, Claudio & Brunello, Giorgio, 2001. "Beyond National Institutions: Labor Taxes and Regional Unemployment in Italy," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Juan Dolado & Marcel Jansen & Juan Jimeno Serrano, 2007. "A Positive Analysis of Targeted Employment Protection Legislation," Topics in Macroeconomics, Berkeley Electronic Press, vol. 7(1), pages 1471-1471. [Downloadable!] (restricted)
    Other versions:
  2. Dolado, Juan J. & Jansen, Marcel & Jimeno, Juan Francisco, 2005. "Dual Employment Protection Legislation: A Framework for Analysis," CEPR Discussion Papers 5033, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  3. Giuseppe Bertola & Francine D. Blau & Lawrence M. Kahn, 2002. "Labor Market Institutions and Demographic Employment Patterns," NBER Working Papers 9043, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  4. Samuel Bentolila & Juan F. Jimeno, . "Spanish Unemployment: The End of the Wild Ride?," Working Papers 2003-10, FEDEA. [Downloadable!]
    Other versions:
  5. Daniel, Kirsten & Siebert, W. Stanley, 2004. "Does Employment Protection Reduce the Demand for Unskilled Labor?," IZA Discussion Papers 1290, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  6. Véronique Genre & Ramón Gómez Salvador & Ana Lamo, 2005. "European women - why do(n’t) they work?," Working Paper Series 454, European Central Bank. [Downloadable!]
  7. Christian Dustmann & Uta Schönberg, 2007. "Apprenticeship Training and Commitment to Training Provision," Economics of Education Working Paper Series 0032, University of Zurich, Institute for Strategy and Business Economics (ISU). [Downloadable!]
  8. Samuel Bentolila & Juan F. Jimeno, . "La reforma de la negociación colectiva en España," Working Papers 2002-03, FEDEA. [Downloadable!]
  9. Julián Messina, 2004. "Institutions and service employment - a panel study for OECD countries," Working Paper Series 320, European Central Bank. [Downloadable!]
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