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dc.contributor.authorGatti, Donatellaen
dc.contributor.authorVaubourg, Anne-Gaëlen
dc.date.accessioned2009-04-22-
dc.date.accessioned2010-07-07T11:55:20Z-
dc.date.available2010-07-07T11:55:20Z-
dc.date.issued2009-
dc.identifier.piurn:nbn:de:101:1-2009033080en
dc.identifier.urihttp://hdl.handle.net/10419/35688-
dc.description.abstractUsing data for 18 OECD countries over the period 1980-2004, we investigate how labour and financial factors interact to determine unemployment. We show that the impact of financial variables depends strongly on the labour market context. Increased market capitalization as well as decreased banking concentration reduce unemployment if the level of labour market regulation, union density and coordination in wage bargaining is low. The above financial variables have no effect otherwise. Increasing intermediated credit worsens unemployment when the labour market is weakly regulated and coordinated, whereas it reduces unemployment otherwise. These results suggest that the respective virtues of bank-based and market-based finance are crucially tied to the strength of labour regulation.en
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x4075en
dc.subject.jelE24en
dc.subject.jelJ23en
dc.subject.jelP17en
dc.subject.ddc330en
dc.subject.keywordUnemploymenten
dc.subject.keywordinstitutional complementarities and substitutabilitiesen
dc.subject.keywordlabour marketen
dc.subject.keywordfinancial systemen
dc.subject.stwArbeitslosigkeiten
dc.subject.stwFinanzsektoren
dc.subject.stwFinanzintermediären
dc.subject.stwBankensystemen
dc.subject.stwArbeitsmarktflexibilisierungen
dc.subject.stwSystemvergleichen
dc.subject.stwOECD-Staatenen
dc.titleUnemployment and finance: how do financial and labour market factors interact?-
dc.type|aWorking Paperen
dc.identifier.ppn598045120en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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