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Title:Labour market institutions and unemployment: Does finance matter? PDF Logo
Authors:Rault, Christophe
Vaubourg, Anne-Gaël
Issue Date:2011
Series/Report no.:Discussion paper series // Forschungsinstitut zur Zukunft der Arbeit 5606
Abstract:We explore whether finance influences the impact of labour market institutions on unemployment. Using a data set of 18 OECD countries over 1980-2004, we estimate a panel VectorAutoRegressive model. We check whether causalities from labour market variables to unemployment are affected by financial factors. In Belgium, Italy, Australia, Japan and Spain, accounting for financial indicators mitigates the benefits of labour market flexibilization or makes it harmful to employment. In Austria, Canada, Finland and Portugal, it reduces its detrimental impact or makes it beneficial. In Ireland and Netherlands, both effects prevail, depending on the labour market indicator used.
Subjects:unemployment
labour market
financial factors
institutional interactions
panel VAR
JEL:E24
J23
P17
Persistent Identifier of the first edition:urn:nbn:de:101:1-201104134449
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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