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- W2276773728 abstract "This paper uses data for the UK and the Netherlands (1983q4-2011q4) to test if hysteresis occurs in these economics, and through what mechanisms. The novelty of the paper resides in the use of a VAR-IRF that encompasses previous hysteresis studies and the use of specific Labour Market Institutions shocks. This allows us to disentangle what specific demand and supply-variables affect unemployment in the long-run. Further we also investigate the impact of different supply and demand-shock on long-term unemployment. Our findings suggest that there is hysteresis in both countries, and that it happens through different channels, namely, long-term unemployment, productivity, capital stock and real long-term interest rates. These results have implications for structural and macroeconomic policies that we also discuss." @default.
- W2276773728 created "2016-06-24" @default.
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- W2276773728 date "2015-01-01" @default.
- W2276773728 modified "2023-09-26" @default.
- W2276773728 title "Hysteresis and Labour Market Institutions: Evidence from the UK and the Netherlands" @default.
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- W2276773728 doi "https://doi.org/10.2139/ssrn.2704802" @default.
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