Youth Unemployment in Europe: Persistence and Macroeconomic Determinants

Guglielmo Maria Caporale and Luis Gil-Alana

No 4696, CESifo Working Paper Series from CESifo

Abstract: This paper investigates the statistical features and the macroeconomic determinants of youth unemployment in a number of European countries. First, it explores its short and long memory properties by estimating both autoregressive and fractional integration models. This type of analysis sheds light on the degree of persistence of the series, and on whether policy actions are required for highly persistent series. Second, it investigates the main determinants of youth unemployment in Europe by estimating fractional cointegration models. The evidence suggests that this series is highly persistent in all the countries examined, and that in some of them there is a statistically significant long-run equilibrium relationship linking it to macroeconomic variables such as GDP and inflation.

Keywords: youth unemployment; fractional integration; fractional cointegration (search for similar items in EconPapers)
JEL-codes: C22 C32 J64 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (22)

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Journal Article: Youth Unemployment in Europe: Persistence and Macroeconomic Determinants (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_4696

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