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Patterns of Unemployment : An Insider-Outsider Analysis

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Author Info

  • Lindbeck, A.
  • Snower, D.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 Stockholm - International Economic Studies in its series Papers with number 520.

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Length: 29 pages
Date of creation: 1992
Date of revision:
Handle: RePEc:fth:stocin:520

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Keywords: unemployment ; productivity;

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Cited by:
  1. 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.
  2. 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.
  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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