Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/76301
Authors: 
Koskela, Erkki
Uusitalo, Roope
Year of Publication: 
2003
Series/Report no.: 
CESifo Working Paper 878
Abstract: 
The Finnish unemployment rose in the early 1990's from three to eighteen percent in four years. Unemployment has then decreased to the average European level, being 8.5 percent in October 2002. In this paper, we describe the shocks leading to this unforeseen increase in unemployment. We then discuss the role of labour market institutions in the adjustment process that has brought unemployment back to normal' levels. We argue that these institutions cannot be blamed for the increase in unemployment, but that more flexible institutions could have lead to a more rapid decline in unemployment.
Subjects: 
unemployment
labour market institutions
Document Type: 
Working Paper

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