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Macro-determinants of UK regional unemployment and the role of employment flexibility

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  • Monastiriotis, Vassilis

Abstract

This paper explores the macroeconomic determinants of UK regional unemployment and their relation to the influences on unemployment exerted by the levels and types of employment flexibility in the country. Theoretically the paper draws on Keynesian and monetarist explanations of unemployment and elaborates on how the two main theoretical approaches perceive the role of price stability, accumulation, macroeconomic shocks and labour market rigidities for unemployment. Empirically, the analysis relies on a novel set of flexibility indicators and examines their impact on regional unemployment, unemployment persistence, and adjustment to economic shocks. The results provide useful insights into the explored relationships and highlight the areas and conditions under which employment flexibility helps achieve favourable employment outcomes. The implications of the findings are discussed in the concluding section.

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File URL: http://mpra.ub.uni-muenchen.de/44/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 44.

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Date of creation: Mar 2006
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Handle: RePEc:pra:mprapa:44

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Keywords: Employment flexibility; regional unemployment; persistence; NAIRU and Keynesian explanations of unemployment;

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  1. 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 2000-40, Tilburg University, Center for Economic Research.
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Cited by:
  1. Almosabbeh, Imadeddin, 2008. "العوامل المؤثرة في البطالة في الجمهورية العربية السورية دراسة تطبيقية باستخدام منهجية التكامل المشترك
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    ," MPRA Paper 41871, University Library of Munich, Germany.

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