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Links between labor supply and unemployment: theory and empirics

Author

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  • Etienne Wasmer

    (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique)

Abstract

A flow model of labor market participation is used to describe how various exogenous variations jointly affect unemployment and participation and provides short-run identification restrictions of a structural VAR. In some countries, fast rising female participation may have had a moderate short- and medium-run impact on unemployment rates. A variance decomposition exercise indicates that, in Continental Europe, participation is driven in the short run by unemployment shocks, whereas in the USA, it is driven by participation shocks (demography, immigration). Unemployment in Europe is driven by participation shocks, whereas in the USA, it is driven by unemployment shocks.

Suggested Citation

  • Etienne Wasmer, 2008. "Links between labor supply and unemployment: theory and empirics," Sciences Po Economics Publications (main) hal-03588640, HAL.
    • Handle: RePEc:hal:spmain:hal-03588640
    DOI: 10.1007/s00148-007-0161-8
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    Cited by:

    1. is not listed on IDEAS
    2. Martín-Román, Ángel L., 2022. "Beyond the added-worker and the discouraged-worker effects: the entitled-worker effect," Economic Modelling, Elsevier, vol. 110(C).
    3. Thomas Van Gent & Farida C. Khan & Norman Cloutier, 2019. "Industrial Effects on Male and Female Unemployment Over the Great Recession: An Interurban Analysis," The American Economist, Sage Publications, vol. 64(1), pages 19-30, March.
    4. Abdur Razzaq* & Sari Lestari Zainal Ridho, 2018. "The Impact of Political Dynasty on Development in Indonesia: An Empirical Analysis," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 393-398:2.
    5. Lee, Grace H.Y. & Parasnis, Jaai, 2014. "Discouraged workers in developed countries and added workers in developing countries? Unemployment rate and labour force participation," Economic Modelling, Elsevier, vol. 41(C), pages 90-98.
    6. Noel Gaston & Gulasekaran Rajaguru, 2015. "A Markov-switching structural vector autoregressive model of boom and bust in the Australian labour market," Empirical Economics, Springer, vol. 49(4), pages 1271-1299, December.

    More about this item

    Keywords

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    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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