LEADER 06298oam 22011534 450 001 9910819366603321 005 20240402045054.0 010 $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(IMF)WPIEE2012065 035 $a(IMF)WPIEA2012065 035 $a(EXLCZ)992550000000106087 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCrises, Labor Market Policy, and Unemployment /$fDavide Furceri, Lorenzo E. Bernal-Verdugo, Dominique Guillaume 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (31 p.) 225 1 $aIMF Working Papers 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 3 $aUsing a sample of 97 countries spanning the period 1980?2008, we estimate that financial crises have a large negative impact on unemployment in the short term, but that this effect rapidly disappears in the medium term in countries with flexible labor market institutions, whereas the impact of financial crises is less pronounced but more persistent in countries with more rigid labor market institutions. These effects are even larger for youth unemployment in the short term and long-term unemployment in the medium term. Conversely, large upfront, or gradual but significant, comprehensive labor market policies have a positive impact on unemployment, albeit only in the medium term. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/065 606 $aFinancial crises$xEconometric models 606 $aUnemployment$xEconometric models 606 $aLabor market$xEconometric models 606 $aManpower policy 606 $aLabor$2imf 606 $aMacroeconomics: Consumption, Saving, Production, Employment and Investment: Other$2imf 606 $aMobility, Unemployment, and Vacancies: General$2imf 606 $aBusiness Fluctuations$2imf 606 $aCycles$2imf 606 $aDemand and Supply of Labor: General$2imf 606 $aUnemployment: Models, Duration, Incidence, and Job Search$2imf 606 $aParticular Labor Markets: General$2imf 606 $aLabor Economics Policies$2imf 606 $aLabour$2imf 606 $aincome economics$2imf 606 $aUnemployment$2imf 606 $aLabor market flexibility$2imf 606 $aLabor market institutions$2imf 606 $aLabor market policy$2imf 606 $aLabor markets$2imf 606 $aLabor market$2imf 606 $aManpower policy$2imf 607 $aDenmark$2imf 615 0$aFinancial crises$xEconometric models. 615 0$aUnemployment$xEconometric models. 615 0$aLabor market$xEconometric models. 615 0$aManpower policy. 615 7$aLabor 615 7$aMacroeconomics: Consumption, Saving, Production, Employment and Investment: Other 615 7$aMobility, Unemployment, and Vacancies: General 615 7$aBusiness Fluctuations 615 7$aCycles 615 7$aDemand and Supply of Labor: General 615 7$aUnemployment: Models, Duration, Incidence, and Job Search 615 7$aParticular Labor Markets: General 615 7$aLabor Economics Policies 615 7$aLabour 615 7$aincome economics 615 7$aUnemployment 615 7$aLabor market flexibility 615 7$aLabor market institutions 615 7$aLabor market policy 615 7$aLabor markets 615 7$aLabor market 615 7$aManpower policy 676 $a332 700 $aFurceri$b Davide$01157580 701 $aBernal-Verdugo$b Lorenzo E$01624890 701 $aGuillaume$b Dominique$01624891 801 0$bDcWaIMF 906 $aBOOK 912 $a9910819366603321 996 $aCrises, Labor Market Policy, and Unemployment$93960084 997 $aUNINA