[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/p/zbw/esconf/194294.html
   My bibliography  Save this paper

The Impact of Economic and Financial Crises on Unemployment Rate in European Union

Author

Listed:
  • Jianu, Ionuț
Abstract
This paper aims at clustering the European Union member states into two groups of countries (country-groups with inclusive institutions / extractive institutions) and, depending on them, to assess the impact of financial shocks on unemployment during 2003-2017 period, given that the unemployment was the main channel by which the economic and financial crisis influenced the social developments in the European Union. In order to achieve the objective of the paper, I used panel Panel Estimated Generalized Least Squares method for both clusters, this being weighted by Period SUR option to remove ex-ante the possible inconveniences of the model. The quality of institutions wasn't used yet as a clustering criterion for unemployment assessments and this approach can bring a real value added in this research area. The results show that the institutios quality are a relevant explanatory factor for economic and social development. This assessment also confirm the lower resilience of labour markets at the effects of the economic and financial crisis in the member states with extractive institutions.

Suggested Citation

  • Jianu, Ionuț, 2018. "The Impact of Economic and Financial Crises on Unemployment Rate in European Union," EconStor Conference Papers 194294, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esconf:194294
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    References listed on IDEAS

    as
    1. Boeri, Tito & Jimeno, Juan Francisco, 2015. "The unbearable divergence of unemployment in Europe," LSE Research Online Documents on Economics 65001, London School of Economics and Political Science, LSE Library.
    2. Robert Solow, 2000. "Unemployment in the United States and in Europe - A Contrast and the Reasons," CESifo Working Paper Series 231, CESifo.
    3. Mădălina AVRAM & Constantin POSTOIU, 2016. "Territorial patterns of development in the European Union," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(606), S), pages 77-88, Spring.
    4. Misbah Tanveer Choudhry & Enrico Marelli & Marcello Signorelli, 2012. "Youth unemployment rate and impact of financial crises," International Journal of Manpower, Emerald Group Publishing Limited, vol. 33(1), pages 76-95, March.
    5. Tito Boeri & Pietro Garibaldi & Espen R Moen, 2013. "Financial Shocks and Labor: Facts and Theories," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 61(4), pages 631-663, December.
    6. Lo Duca, Marco & Koban, Anne & Basten, Marisa & Bengtsson, Elias & Klaus, Benjamin & Kusmierczyk, Piotr & Lang, Jan Hannes & Detken, Carsten & Peltonen, Tuomas, 2017. "A new database for financial crises in European countries," Occasional Paper Series 194, European Central Bank.
    7. Robert Solow, 2000. "Unemployment in the United States and in Europe : a contrast and the reasons ; the European unemployment problem," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 1(01), pages 3-5, October.
    8. Ionuţ JIANU, 2017. "The impact of private sector credit on income inequalities in European Union (15 member states)," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(611), S), pages 61-74, Summer.
    9. Ionut Jianu, 2020. "The impact of private sector credit on income inequalities in European Union (15 member states)," Papers 2007.11408, arXiv.org.
    10. Calvo, Guillermo & Coricelli, Fabrizio & Ottonello, Pablo, 2012. "The Labor Market Consequences of Financial Crises With or Without Inflation: Jobless and Wageless Recoveries," CEPR Discussion Papers 9218, C.E.P.R. Discussion Papers.
    11. Andreea Florentina NICOLESCU, 2017. "Current challenges of the European security caused by the refugee crisis. The EU's fight against terrorism," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 9(3), pages 174-194, October.
    12. Jianu, Ionuț, 2017. "The impact of private sector credit on income inequalities in European Union (15 member states)," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 0(2 (611)), pages 61-74.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ionut Jianu, 2020. "The Relationship between the Economic and Financial Crises and Unemployment Rate in the European Union -- How Institutions Affected Their Linkage," Papers 2007.12007, arXiv.org.
    2. Dal Bianco, Silvia & Bruno, Randolph L. & Signorelli, Marcello, 2015. "The joint impact of labour policies and the “Great Recession” on unemployment in Europe," Economic Systems, Elsevier, vol. 39(1), pages 3-26.
    3. Josef C Brada & Marcello Signorelli, 2012. "Comparing Labor Market Performance: Some Stylized Facts and Key Findings," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 54(2), pages 231-250, June.
    4. Enrico Marelli & Misbah T. Choudhry & Marcello Signorelli, 2013. "Youth and total unemployment rate: the impact of policies and institutions," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 121(1), pages 63-86.
    5. Truger, Achim & Hein, Eckhard, 2004. "Macroeconomic co-ordination as an economic policy concept : opportunities and obstacles in the EMU," WSI Working Papers 125, The Institute of Economic and Social Research (WSI), Hans Böckler Foundation.
    6. Carsten Ochsen, 2009. "On the measurement of mismatch," Applied Economics Letters, Taylor & Francis Journals, vol. 16(4), pages 405-409.
    7. Sulekha Hembram & Sushil Kr. Haldar, 2019. "Beta, sigma and club convergence: Indian experience from 1980 to 2015," Indian Economic Review, Springer, vol. 54(2), pages 343-366, December.
    8. Eckhard Hein & Achim Truger, 2005. "What ever happened to Germany? Is the decline of the former european key currency country caused by structural sclerosis or by macroeconomic mismanagement?," International Review of Applied Economics, Taylor & Francis Journals, vol. 19(1), pages 3-28.
    9. repec:wly:camsys:v:7:y:2011:i:1:p:1-38:b is not listed on IDEAS
    10. Eckhard Hein & Achim Truger, 2007. "Germany’s Post-2000 Stagnation in the European Context — a Lesson in Macroeconomic Mismanagement," Palgrave Macmillan Books, in: Philip Arestis & Eckhard Hein & Edwin Heron (ed.), Aspects of Modern Monetary and Macroeconomic Policies, chapter 12, pages 223-247, Palgrave Macmillan.
    11. Borsi, Mihály Tamás, 2018. "Credit contractions and unemployment," International Review of Economics & Finance, Elsevier, vol. 58(C), pages 573-593.
    12. Laura Diaconu (Maxim), 2014. "Regional Disparities Of The European Union Labor Markets," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 6(2), pages 57-67, July.
    13. Odile Chagny & Jörg Döpke, 2001. "Measures of the Output Gap in the Euro-Zone: An Empirical Assessment of Selected Methods," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 70(3), pages 310-332.
    14. PERUGINI, Cristiano, 2009. "Employment Intensity Of Growth In Italy. A Note Using Regional Data," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 9(1).
    15. Eckhard Hein & Achim Truger, 2007. "Monetary Policy, Macroeconomic Policy Mix and Economic Performance in the Euro Area," Chapters, in: Eckhard Hein & Achim Truger (ed.), Money, Distribution and Economic Policy, chapter 11, Edward Elgar Publishing.
    16. Arno Hantzsche & Simon Savsek & Sebastian Weber, 2018. "Labour Market Adjustments to Financing Conditions under Sectoral Rigidities in the Euro Area," Open Economies Review, Springer, vol. 29(4), pages 769-794, September.
    17. Zoltàn Pogàtsa, "undated". "The Rehn-Meidner Model of Wage and Productivity Policy. A Sraffian Analysis," Working Papers 0034, ASTRIL - Associazione Studi e Ricerche Interdisciplinari sul Lavoro.
    18. Ghoshray, Atanu & Ordóñez, Javier & Sala, Hector, 2016. "Euro, crisis and unemployment: Youth patterns, youth policies?," Economic Modelling, Elsevier, vol. 58(C), pages 442-453.
    19. Hubert Gabrisch & Herbert Buscher, 2006. "The Relationship between Unemployment and Output in Post-communist Countries," Post-Communist Economies, Taylor & Francis Journals, vol. 18(3), pages 261-276.
    20. Antonella Palumbo, 2008. "I metodi di stima del PIL potenziale tra fondamenti di Teoria economica e Contenuto empirico," Departmental Working Papers of Economics - University 'Roma Tre' 0092, Department of Economics - University Roma Tre.
    21. Daniel Kienzler & Kai D. Schmid, 2014. "Hysteresis in Potential Output and Monetary Policy," Scottish Journal of Political Economy, Scottish Economic Society, vol. 61(4), pages 371-396, September.

    More about this item

    Keywords

    unemployment; financial shocks; crisis; dummy; youth;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:esconf:194294. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/zbwkide.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.