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dc.contributor.authorSachs, Andreasen_US
dc.date.accessioned2011-09-16en_US
dc.date.accessioned2011-09-29T15:45:22Z-
dc.date.available2011-09-29T15:45:22Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/49998-
dc.description.abstractIsolated effects of labor and product market institutions as well as the interaction between both aforementioned categories on unemployment have been extensively discussed in the empirical literature. However, interaction effects between individual labor market institutions have been widely neglected, mainly due to the infeasibility to correctly specify the model. In this paper, a model averaging approach is adopted to show that considering institutional interactions can improve the explanatory power of macroeconomic models explaining unemployment. The approach permits to tackle model specification problems directly related to the inclusion of a large number of interactions. Using a panel data set for 17 OECD countries from 1982 to 2005, 22 robust and significant interactions can be identified. Furthermore, country-specific marginal effects of institutional changes are calculated and their economic significance is analyzed for selected countries.en_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheimen_US
dc.relation.ispartofseriesZEW Discussion Papers 11-057en_US
dc.subject.jelC33en_US
dc.subject.jelE02en_US
dc.subject.jelE24en_US
dc.subject.ddc330en_US
dc.subject.keywordUnemploymenten_US
dc.subject.keywordInstitutionsen_US
dc.subject.keywordLabor and Product Marketsen_US
dc.subject.keywordModel Averagingen_US
dc.subject.keywordInstitutional Interactionsen_US
dc.subject.keywordInstitutional Designen_US
dc.titleInstitutions and unemployment: Do interactions matter?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn668440422en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:zewdip:11057-
Appears in Collections:Publikationen von Forscherinnen und Forschern des ZEW
ZEW Discussion Papers

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