Arbeitspapier
Unemployment in the OECD : Models and Mysteries
This paper compares models used to explain OECD unemployment. The models suggest that the ?natural rate of unemployment? has been driven up mainly by wage push factors. Panel data on twenty-two OECD countries are used to investigate the explanatory power of these models over the past two decades. Our estimates reveal that coefficients on key variables often turn out with signs which are at odds with the theories or are insignificant and that a second order autoregressive model performs nearly as well as all the other models. The conclusion offers some directions for future research.
- Language
-
Englisch
- Bibliographic citation
-
Series: IZA Discussion Papers ; No. 1168
- Classification
-
Wirtschaft
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Unemployment: Models, Duration, Incidence, and Job Search
Model Evaluation, Validation, and Selection
- Subject
-
unemployment
natural rate
supply shocks
hysteresis
Theorie der Arbeitslosigkeit
Theorie
Arbeitslosigkeit
OECD-Staaten
- Event
-
Geistige Schöpfung
- (who)
-
Junankar, P. N. (Raja)
Madsen, Jakob B.
- Event
-
Veröffentlichung
- (who)
-
Institute for the Study of Labor (IZA)
- (where)
-
Bonn
- (when)
-
2004
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Junankar, P. N. (Raja)
- Madsen, Jakob B.
- Institute for the Study of Labor (IZA)
Time of origin
- 2004
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