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dc.contributor.authorJunankar, P. N. Rajaen_US
dc.date.accessioned2012-04-04en_US
dc.date.accessioned2012-06-15T07:56:24Z-
dc.date.available2012-06-15T07:56:24Z-
dc.date.issued2011en_US
dc.identifier.piurn:nbn:de:101:1-201111072659-
dc.identifier.urihttp://hdl.handle.net/10419/58857-
dc.description.abstractThis paper analyses the impact of the global economic crisis on unemployment and long term unemployment in the OECD. It uses simple econometric models using panel data (quarterly) and time series data. In general, we find that long term unemployment increases with the unemployment rate, there is persistence in long term unemployment, and that the employment protection variable and the replacement rate are statistically insignificant. Overall, the findings of our research are that there are many differences between the impact of the Great Recession on different countries. Countries that faced a significant financial crisis and a collapse of the housing market bubble have had large increases in unemployment and long term unemployment. There was a big fall in employment in the (especially) construction and manufacturing industries. The financial collapse led to an increase in unemployment in the financial and business sector. As a result of these twin shocks labour mobility of the unemployed is likely to be affected: with negative equity in housing, unemployed workers are unlikely to move regionally. With a loss of wealth (in housing and financial assets, including superannuation) there will be a fall in consumer spending which will slow down the recovery of economies. This means that, especially for some countries, there will be a long period of high unemployment and long term unemployment.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesDiscussion Paper series, Forschungsinstitut zur Zukunft der Arbeit 6057en_US
dc.subject.jelE24en_US
dc.subject.jelJ60en_US
dc.subject.jelJ68en_US
dc.subject.jelJ69en_US
dc.subject.ddc330en_US
dc.subject.keywordlong-term unemploymenten_US
dc.subject.keywordglobal crisisen_US
dc.subject.keywordlabour market policiesen_US
dc.subject.keywordOECDen_US
dc.subject.stwWirtschaftskriseen_US
dc.subject.stwLangzeitarbeitslosigkeiten_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwImmobilienmarkten_US
dc.subject.stwBubblesen_US
dc.subject.stwSch├Ątzungen_US
dc.subject.stwOECD-Staatenen_US
dc.titleThe global economic crisis: Long-term unemployment in the OECDen_US
dc.typeWorking Paperen_US
dc.identifier.ppn689698402en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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