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Don't trust anybody over 30: Youth unemployment and Okun's law in CEE countries

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  • Hutengs, Oliver
  • Stadtmann, Georg
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    Abstract

    In 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 Info

    Paper provided by European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics in its series Discussion Papers with number 333.

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    Date of creation: 2013
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    Handle: RePEc:zbw:euvwdp:333

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    Keywords: Okun's law; labor market; youth unemployment;

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    1. 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.
    2. 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).
    3. 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.
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    Cited by:
    1. KARGI, Bilal, 2014. "Okun’s Law and Long Term Co-Integration Analysis for OECD Countries (1987-2012)," EconStor Open Access Articles, ZBW - German National Library of Economics, pages 77-85.

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