Cyclical unemployment behavior and labor markets institutions
| Authors | |
|---|---|
| Year of publication | 2013 |
| Type | Article in Proceedings |
| Conference | Proceedings of the 31st International Conference Mathematical Methods in Economics 2013 |
| MU Faculty or unit | |
| Citation | |
| web | https://www.vspj.cz/soubory/download/id/2259 |
| Field | Economy |
| Keywords | cyclical unemployment; institutions; OECD countries |
| Description | This paper deals with relationship of labor-market institutions and cyclical unemployment described by unemployment gap. Results obtained from unbalanced panel regression for OECD countries in period 1990--2012 brings an evidence that there indeed is a relationship between institutional settings of labor markets and the amplitude of cyclical unemployment. Where the effects of institutional setting vary in dependence on the phase of the business-cycle. If the output is below the trend the more protective institutions mostly tend to reduce the amplitude. In the opposite case -- i.e. if the output is higher than trend -- the effect of institutions is mixed. |
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