Gehrke, Britta and Weber, Enzo (2018) Identifying asymmetric effects of labor market reforms. EUROPEAN ECONOMIC REVIEW, 110. pp. 18-40. ISSN 0014-2921, 1873-572X
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This paper proposes a novel approach to identify structural long-term driving forces of the labor market and their short-run state-dependent effects. Based on search and matching theory, our empirical model extracts these driving forces within an unobserved components approach. We relate changes in the labor market structures to reforms that enhance the flexibility of the labor market in expansion and recession. Results for Germany and Spain show that labor market reforms have substantially weaker beneficial effects in the short run when implemented in recessions. From a policy perspective, these results highlight the costs of introducing reforms in recessions. (C) 2018 Elsevier B.V. All rights reserved.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | UNOBSERVED COMPONENTS MODEL; STRUCTURAL REFORMS; UNEMPLOYMENT; TIME; COUNTRIES; BEHAVIOR; Labor market reforms; Search and matching; Business cycle asymmetries; Markov switching |
| Subjects: | 300 Social sciences > 330 Economics |
| Divisions: | Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Empirische Wirtschaftsforschung, insbesondere Makroökonomie und Arbeitsmarkt (Prof. Dr. Enzo Weber) |
| Depositing User: | Dr. Gernot Deinzer |
| Date Deposited: | 10 Oct 2019 09:35 |
| Last Modified: | 10 Oct 2019 09:35 |
| URI: | https://pred.uni-regensburg.de/id/eprint/13609 |
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