Don't trust anybody over 30: Youth unemployment and Okun's law in CEE countries
AbstractIn recent years youth unemployment rates across Europe soared, causing the European Commission to take actions through initiatives to counter this development. This article examines youth unemployment development in selected CEE countries and compares them to the EU 15. We use Okun's law and estimate age and country specific Okun coefficients for five different age cohorts. Our results show that young people display much higher Okun coefficients than their older peers, thus confirming that young people are more prone to macroeconomic shocks. This result might be a justification for additional governmental intervention and active labour market policies favouring young people. --
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Bibliographic InfoPaper provided by European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics in its series Discussion Papers with number 333.
Date of creation: 2013
Date of revision:
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More information through EDIRC
Okun's law; labor market; youth unemployment;
Find related papers by JEL classification:
- E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- F50 - International Economics - - International Relations and International Political Economy - - - General
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
This paper has been announced in the following NEP Reports:
- NEP-AGE-2013-04-13 (Economics of Ageing)
- NEP-ALL-2013-04-13 (All new papers)
- NEP-EEC-2013-04-13 (European Economics)
- NEP-MAC-2013-04-13 (Macroeconomics)
- NEP-TRA-2013-04-13 (Transition Economics)
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.:
- Davide Furceri & Aleksandra Zdzienicka, 2009.
"The Real Effect of Financial Crises in the European Transition Economies,"
0920, Groupe d'Analyse et de Théorie Economique (GATE), Centre national de la recherche scientifique (CNRS), Université Lyon 2, Ecole Normale Supérieure.
- Davide Furceri & Aleksandra Zdzienicka, 2011. "The real effect of financial crises in the European transition economies," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 19(1), pages 1-25, 01.
- Davide Furceri & Aleksandra Zdzienicka-Durand, 2011. "The Real Effect of Financial Crises in the European Transition Economies," Post-Print halshs-00431044, HAL.
- Bell, David N.F. & Blanchflower, David G., 2011.
"Young People and the Great Recession,"
IZA Discussion Papers
5674, Institute for the Study of Labor (IZA).
- Edward S. Knotek & II, 2007. "How useful is Okun's law?," Economic Review, Federal Reserve Bank of Kansas City, issue Q IV, pages 73-103.
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