Are the Spanish long-term unemployed unemployable? Bentolila, Samuel; García-Pérez, J. Ignacio; Jansen, Marcel
SERIEs : journal of the Spanish Economic Association,
03/2017, Letnik:
8, Številka:
1
Journal Article
Recenzirano
Odprti dostop
Long-term unemployment reached unprecedented levels in Spain in the wake of the Great Recession and it still affects around 57% of the unemployed. We document the sources that contributed to the rise ...in long-term unemployment and analyze its persistence using state-of-the-art duration models. We find pervasive evidence of negative duration dependence, while personal characteristics such as mature age, lack of experience, and entitlement to unemployment benefits are key to understand the cross-sectional differences in the incidence of long-term unemployment. The negative impact of low levels of skill and education is muted by the large share of temporary contracts, but once we restrict attention to employment spells lasting at least 1 month these factors also contribute to a higher risk of long-term unemployment. Surprisingly, workers from the construction sector do not fare worse than similar workers from other sectors. Finally, self-reported reservation wages are found to respond strongly to the cycle, but much less to individual unemployment duration. In view of these findings, we argue that active labor market policies should play a more prominent role in the fight against long-term unemployment while early activation should be used to curb inflows.
In seiner jüngeren Geschichte war Deutschland mit vielen tiefgreifenden ökonomischen Krisen konfrontiert. Diese wirkten sich vollkommen unterschiedlich auf den Wohnimmobilienmarkt aus. Einige Krisen ...machten sich auf nationaler, andere hingegen lediglich auf regionaler Ebene bemerkbar. Manche Krisen wiederum gingen scheinbar spurlos am deutschen Wohnimmobilienmarkt vorbei.
In its recent history, Germany has faced many serious economic crises. Remarkably, these crises all had a completely different impact on local housing markets. Some crises occurred at the national level, while others only took place at the regional level. Interestingly some crises were seemingly unnoticed by the German housing market. Hence, the question arises why the German housing market reacted differently to these crises and to what extent economic policy decisions were involved.
Since 2014, Canada has been experiencing a higher unemployment rate due to a slump of the crude oil price. Using a monthly data set of the West Texas Intermediate (WTI) crude oil spot price and ...unemployment rates of Canadian provinces and the United States from January 1976 to October 2016, we examine the asymmetric effects of oil price on unemployment rates. Specifically, we split the sample into the pre‐technological boom (January 1976 to March 1995) and post‐technological boom periods (April 1995 to October 2016) and analyse whether the asymmetric effects are discernible in these two periods. This is done by applying the ordinary least squares regressions and Granger causality tests. Our findings confirm the asymmetric effects for the full sample in the United States. In Canada, the negative and asymmetric relationship is conspicuous particularly in the post‐tech period, and this relationship is more prominent in three oil‐producing Canadian provinces namely Alberta, Saskatchewan and Newfoundland & Labrador. It is noticeable that both in Canada and in the three provinces, the falling oil price affects unemployment adversely only in the post‐tech period. Granger causality tests support the short‐run causal relationships between changes in oil price and unemployment rate in the post‐tech period.
Este volumen presenta un conjunto de textos que surgen del legado y los aportes del Cider en su propio proceso de construcción, como centro interdisciplinario de estudios sobre desarrollo. De los 68 ...centros de investigación reconocidos por Colciencias en el 2016, sólo dos tienen un carácter interdisciplinario: uno en el campo de las ciencias básicas y el otro es el Cider. El legado de sus cuarenta años de existencia, que se celebra con este volumen, resulta así central, no sólo para las discusiones sobre la interdisciplinariedad, sino también para los estudios sobre desarrollo. El Cider surge en 1976 con el propósito de brindar, desde la academia, alternativas a los problemas del desarrollo regional que las disciplinas individuales no eran capaces de resolver. Esto llevó a formar profesionales capaces de integrar las visiones y el trabajo de diversos expertos, así como de generar visiones holísticas del desarrollo. La formación de este tipo de profesionales fue el motivo para desarrollar la interdisciplinaridad, por su carácter integrador, sobre todo en la docencia. Luego se buscó un desarrollo de enfoques interdisciplinarios en la investigación que sobrepasara visiones ontológicas disciplinarias. Hoy estos nuevos enfoques permiten abordar problemas sociales complejos, como la globalización, el cambio climático, la pobreza, la ética, el género o la responsabilidad social. El presente volumen no agota la experiencia ni el legado del Cider en estas cuatro décadas, pero, a partir de las contribuciones libres de algunos fundadores, profesores y egresados, brinda una fuente académica para nuevas generaciones de estudiantes y profesores.
...the FOMC turned to alternative tools, such as large-scale purchases of long-term Treasury bonds and mortgage-backed securities and forward guidance about future policy actions, to provide ...necessary stimulus to the economy. ...moving the federal funds rate target closer to the policy prescription-instead of trying to compensate for past misses in monetary stimulus-may be appropriate moving forward.
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