Who bears the cost of the business cycle? Labor-market institutions and volatility of the youth unemployment rate

Daiji Kawaguchi, Tetsushi Murao

研究成果: Contribution to journalArticle査読

5 被引用数 (Scopus)

抄録

The way age-specific unemployment rates fluctuate over the business cycle differs significantly across countries. This paper examines the effect of labor-market institutions on the fluctuations of age-specific unemployment rates based on panel data of 18 OECD countries between 1971 and 2008. Empirical results suggest that the cost of the business cycle disproportionately falls on youths in countries with stricter employment protection. This implies that a higher adjustment cost of an existing workforce induces the employment adjustment of new entrants into the labor market. JEL codes: E24, J80

本文言語英語
論文番号10
ジャーナルIZA Journal of Labor Policy
1
1
DOI
出版ステータス出版済み - 12 1 2012

All Science Journal Classification (ASJC) codes

  • 労使関係
  • 経済学、計量経済学
  • 組織的行動および人的資源管理

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