Labour Market Institutions and Unemployment: Does Finance Matter?
AbstractWe explore whether finance influences the impact of labour market institutions on unemployment. Using a data set of 18 OECD countries over 1980-2004, we estimate a panel VectorAutoRegressive model. We check whether causalities from labour market variables to unemployment are affected by financial factors. In Belgium, Italy, Australia, Japan and Spain, accounting for financial indicators mitigates the benefits of labour market flexibilization or makes it harmful to employment. In Austria, Canada, Finland and Portugal, it reduces its detrimental impact or makes it beneficial. In Ireland and Netherlands, both effects prevail, depending on the labour market indicator used.
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Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 5606.
Length: 22 pages
Date of creation: Mar 2011
Date of revision:
Publication status: published in: Comparative Economic Studies, 2012, 54 (1), 43 - 64
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Other versions of this item:
- Christophe Rault & Anne-Gaël Vaubourg, 2013. "Labour Market Institutions and Unemployment: does Finance Matter?," Working Papers halshs-00833452, HAL.
- E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
- P17 - Economic Systems - - Capitalist Systems - - - Performance and Prospects
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-04-16 (All new papers)
- NEP-LAB-2011-04-16 (Labour Economics)
- NEP-MAC-2011-04-16 (Macroeconomics)
You can help add them by filling out this form.
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