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- Title
DETERMINANTS OF UNEMPLOYMENT IN CENTRAL AND EASTERN EUROPEAN ECONOMIES.
- Authors
Pesliakaitė, Jurgita
- Abstract
The view that an institutional structure causes rigidities in the labour market is broadly accepted by policy makers. This assessment is conventionally based on unemployment theories that establish a link between labour market institutions and unemployment in the long run. This paper provides an econometric analysis of the determinants of unemployment in the long run in ten Central and Eastern European countries for the period of 2002-2012. Evidence that an institutional structure causes rigidities in the labour market and has a direct effect on the unemployment rate in these economies is found in this study. A set of non-structural indicators, accounted by macroeconomic shocks, also prove to have effects on the labour market outcomes. From a policy making perspective, this suggests that structural labour market reforms and increases in the overall flexibility of the labour market in these economies are necessary to bring unemployment rates down.
- Subjects
UNEMPLOYMENT; ECONOMETRICS; LABOR market; ECONOMIC conditions in Eastern Europe; ECONOMIC conditions in Central Europe
- Publication
Monetary Studies (Bank of Lithuania), 2016, Vol 20, Issue 1, p30
- ISSN
1392-2637
- Publication type
Article