LEADER 04567nam 2200697Ia 450 001 9910452792103321 005 20211006213144.0 010 $a1-4639-4894-8 010 $a1-4639-4893-X 035 $a(CKB)2550000000106087 035 $a(EBL)1606610 035 $a(SSID)ssj0000949345 035 $a(PQKBManifestationID)11512167 035 $a(PQKBTitleCode)TC0000949345 035 $a(PQKBWorkID)10996601 035 $a(PQKB)10561936 035 $a(MiAaPQ)EBC1606610 035 $a(Au-PeEL)EBL1606610 035 $a(CaPaEBR)ebr10566257 035 $a(OCoLC)779529256 035 $a(EXLCZ)992550000000106087 100 $a20120308d2012 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCrises, labor market policy, and unemployment$b[electronic resource] $eprepared by Lorenzo E. Bernal-Verdugo, Davide Furceri, and Dominique Guillaume 210 $a[Washington, D.C.] $cInternational Monetary Fund$dc2012 215 $a1 online resource (31 p.) 225 0 $aIMF working paper ;$vWP/12/65 300 $aAt head of title: Middle East and Central Asia Department. 300 $a"March 2012." 311 $a1-4639-4892-1 311 $a1-4639-3842-X 320 $aIncludes bibliographical references. 327 $aCover; Contents; I. Introduction; Figures; 1. The Evolution of Unemployment Across the Regions; II. Data and Descriptive Statistics; 2. Increase in Unemployment Following a Crisis vs. Labor Market Flexibility; III. The Impact of Financial Crises on Unemployment; A. Methodology; B. Results; 3. The Effect of Financial Crises on Unemployment Outcomes; C. Robustness Tests; 4. The Effect of Financial Crises on Unemployment Outcomes: Robustness Check; IV. Labor Market Flexibility and the Response of Unemployment to Financial Crises 327 $a5. The Role of Labor Market Flexibility in Shaping the Effect of Financial Crises on Unemployment V. Labor Market Policies and Unemployment Outcomes; A. The Impact of Large-Scale Changes in Labor Market Institutions; 6. The Static Role of Hiring and Firing Regulation in Shaping the Effect of Financial Crises on Youth and Long-Term Unemployment; 7. The Effects of Reforms on Unemployment-OLS; 8. The Effects of Reforms vs. Crises on Unemployment-OLS; B. Endogeneity; 9. The Effects of Labor Market Policies on Unemployment-OLS; C. Gradual Changes in Labor Market Institutions 327 $a10. The Effects of Labor Market Policies on Unemployment-IV11. The Effects of Gradual Labor Market Policies on Unemployment; VI. Conclusions; Tables; 1. Summary Statistics for Labor Market Outcomes and Flexibility Indicators; 2. Correlation Matrix of Labor Market Outcomes and Flexibility Indicators; 3. Short- and Medium-Term Effects of Financial Crises on Unemployment: Flexible vs. Rigid Labor Markets; 4. Medium-Term Effect of Labor Market Policies-OLS; 5. Probability of Large-Scale Changes in Labor Market Institutions; 6. Medium-Term Effect of Labor Market Policies-IV Robustness Checks 327 $a7. Medium-Term Effect of Labor Market Policies-Expected vs. Non-Expected References; Annex-Data 330 $aUsing a sample of 97 countries spanning the period 1980?2008, we estimate that financial crises have a large negative impact on unemployment in the short term, but that this effect rapidly disappears in the medium term in countries with flexible labor market institutions, whereas the impact of financial crises is less pronounced but more persistent in countries with more rigid labor market institutions. These effects are even larger for youth unemployment in the short term and long-term unemployment in the medium term. Conversely, large upfront, or gradual but significant, comprehensive labor 410 0$aIMF Working Papers 606 $aFinancial crises$xEconometric models 606 $aUnemployment$xEconometric models 606 $aLabor market$xEconometric models 606 $aManpower policy 608 $aElectronic books. 615 0$aFinancial crises$xEconometric models. 615 0$aUnemployment$xEconometric models. 615 0$aLabor market$xEconometric models. 615 0$aManpower policy. 700 $aBernal-Verdugo$b Lorenzo E$01038289 701 $aFurceri$b Davide$0963574 701 $aGuillaume$b Dominique$01038290 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910452792103321 996 $aCrises, labor market policy, and unemployment$92459792 997 $aUNINA