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- W3121851672 abstract "This paper examines the effect of economic crises on structural unemployment using an Autoregressive Distributed Lags model and accounting for the role of institutional settings. Analysing an unbalanced panel of 30 OECD economies from 1970 to 2008, we found that downturns have, on average, a significant positive impact on the level of structural unemployment rate. The maximum impact varies with the severity of the downturn. Institutions (such as Employment Protection Legislation, average replacement ratio and product market regulation) influence both the extent of the initial shock and the adjustment pattern in the aftermath of a downturn. Comment les institutions influencent-elles le chomage structurel en temps de crise ? Ce document examine l’effet des crises economiques sur le chomage structurel en utilisant un modele Autoregressif a Retards Distribues et en prenant en compte l’effet des institutions. A partir d’un panel non cylindre de 30 economies de l’OCDE de 1970 a 2008, les crises economiques sont estimees avoir, en moyenne, un effet significatif et positif sur le niveau du taux de chomage structurel. L’effet maximal varie avec la severite de la crise. Les institutions (legislation sur la protection de l’emploi, ratio de remplacement moyen et regulation sur les marches des produits) influencent a la fois l’amplitude du choc initial et l’ajustement suivant le choc." @default.
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- W3121851672 date "2009-11-03" @default.
- W3121851672 modified "2023-09-23" @default.
- W3121851672 title "How do Institutions Affect Structural Unemployment in Times of Crises" @default.
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