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Fehn, Rainer
Fuchs, Thomas
Year of Publication: 
Series/Report no.: 
CESifo Working Paper 898
This paper analyses the influence of the capital market on the labour market. Especially the impact of start-up financing on the structure of unemployment is of interest. We use a cross-country panel data analysis to examine how venture capital investment influences disaggre-gate unemployment. As we expected, venture capital investment has different influences on sectoral-, educational- and occupational-specific unemployment. We suggest, on the basis of the regression results that venture capital investment is a catalyst of structural change and has contributed to the faster growing internet and new economy sector in countries like the U.S. that have a well-developed venture capital market.
Labor markets
venture capital
new economy
panel analysis
Document Type: 
Working Paper

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