Long-term unemployment in the varieties of capitalism
AbstractThis paper considers how the different varieties of capitalism affect the rate of long-term unemployment. The liberal market variety, where employment protection is the lowest, presents lower rates of long-term unemployment than the continental European, or the Mediterranean varieties. In the latter both employment protection and long-term unemployment are the highest and labour market participation the lowest. But the social-democratic Scandinavian variety gets the best of both worlds: low rates of long-term unemployment, high rates of labour participation, lower degree of inequality, together with relatively high levels of employment protection. Low rates of long-term unemployment and high levels of labour participation are also produced by the far-Eastern Asian variety, but at the cost of a markedly dualistic labour market structure.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 44752.
Date of creation: 05 Mar 2013
Date of revision:
Long-term unemployment; varieties of capitalism; economic fallacies;
Find related papers by JEL classification:
- J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
- P1 - Economic Systems - - Capitalist Systems
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-03-16 (All new papers)
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