How do Institutions Affect Structural Unemployment in Times of Crises?

Davide Furcerii ; Annabelle Mourouganei iOECD

Organisation for Economic Co-operation and Development

关键词: crisis;    structural unemployment;    institutions;    employment protection legislation;   

DOI  :  https://doi.org/10.1787/220734255421

学科分类：社会科学、人文和艺术（综合）

来源: OECD iLibrary

【 摘 要 】

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.