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Youth Unemployment in the OECD: Demographic Shifts, Labour Market Institutions and Macroeconomic Shocks. ENEPRI Working Paper No. 19, March 2003

Jimeno, Juan F. and Rodriguez-Palenzuela, Diego. (2003) Youth Unemployment in the OECD: Demographic Shifts, Labour Market Institutions and Macroeconomic Shocks. ENEPRI Working Paper No. 19, March 2003. [Working Paper]

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    Abstract

    We use a panel of OECD countries to gauge the relevance of the relative size of the youth population, labour market institutions and macroeconomic shocks at explaining observed relative youth unemployment rates. We find that the fluctuations of the youth population size caused by the baby boom of the 1950s and 1960s and the subsequent decline of fertility in many European countries are positively associated with fluctuations in relative youth unemployment rates. We also find that some labour market institutions contribute to increase youth unemployment, and that the adjustment to macroeconomic shocks has affected relatively more to young workers than to adult workers. To motivate the effects of institutions on the relative unemployment rate of young workers, we lay out a simple theoretical model that builds on the imperfect substitutability of workers of different ages, and on the non-allocative role of (age specific) wages.

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    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > employment/labour market > employment/unemployment
    EU policies and themes > Policies & related activities > economic and financial affairs > general
    EU policies and themes > EU institutions & developments > institutional development/policy > historical development of EC (pre-1986)
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > ENEPRI Working Papers
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 13 Oct 2009
    Page Range: p. 55
    Last Modified: 15 Feb 2011 18:15
    URI: http://aei.pitt.edu/id/eprint/11650

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