Thursday, May 26, 2005

[IWS] IILS: Institutional Determinants of Unemployment in OECD Countries: A time series cross-section analysis (1960-98)

IWS Documented News Service
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Institute for Workplace Studies                 Professor Samuel B. Bacharach
School of Industrial & Labor Relations          Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor                  Stuart Basefsky
New York, NY 10016                      Director, IWS News Bureau
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INTERNATIONAL INSTITUTE FOR LABOUR STUDIES (IILS)
Discussion paper
DP/160/2005
Decent Work Research Programme

Institutional determinants of unemployment in OECD countries: A time series cross-section analysis (1960-98)
by Lucio Baccaro and Diego Rei
http://www.ilo.org/public/english/bureau/inst/download/dp16005.pdf
or
http://www-ilo-mirror.cornell.edu/public/english/bureau/inst/download/dp16005.pdf
[full-text, 67 pages]

Abstract:
Few policy problems are more relevant at the present time, at least for some advanced countries, than the problem of unemployment.  In this domain, the view that unemployment is caused by labor market rigidities and should be addressed through systematic institutional deregulation has gained broad currency and has been embraced by national and international policy-making agencies alike. Given the importance of the issue, it is crucial to understand whether such analyses stand to scrutiny. This paper engages in a time-series cross-section (TSCS) analysis, which compares several estimators and seeks to pay close attention to the statistical properties of models. We find no broad support for the "deregulatory view." It does not seem to be the case that greater degrees of labor market rigidities are systematically associated with higher unemployment in OECD countries in the period under consideration (1960-1998).  As far as pooling available data on OECD countries allows one to tell, restrictive macroeconomic policies and institutions supporting them appear to play a more important role.

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