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dc.contributor.authorSachs, Andreasen
dc.date.accessioned2011-09-16-
dc.date.accessioned2011-09-29T15:45:22Z-
dc.date.available2011-09-29T15:45:22Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aZentrum für Europäische Wirtschaftsforschung (ZEW) |cMannheimen
dc.relation.ispartofseries|aZEW Discussion Papers |x11-057en
dc.subject.jelC33en
dc.subject.jelE02en
dc.subject.jelE24en
dc.subject.ddc330en
dc.subject.keywordUnemploymenten
dc.subject.keywordInstitutionsen
dc.subject.keywordLabor and Product Marketsen
dc.subject.keywordModel Averagingen
dc.subject.keywordInstitutional Interactionsen
dc.subject.keywordInstitutional Designen
dc.titleInstitutions and unemployment: Do interactions matter?-
dc.typeWorking Paperen
dc.identifier.ppn668440422en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zewdip:11057en

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