Unemployment in the OECD Since the 1960s. What Do We Know?

Authors: Stephen Nickell¹; Luca Nunziata²; Wolfgang Ochel³

Source: The Economic Journal, Volume 115, Number 500, January 2005 , pp. 1-27(27)

Buy & download fulltext article:

Price: $48.00 plus tax (Refund Policy)

Abstract:

This paper presents an empirical analysis of unemployment patterns in the OECD countries from the 1960s to the 1990s. Our results indicate the following. First, broad movements in unemployment across the OECD can be explained by shifts in labour market institutions. Second, interactions between average values of these institutions and shocks make no significant additional contribution to our understanding of OECD unemployment changes.

Document Type: Research article

DOI: http://dx.doi.org/10.1111/j.1468-0297.2004.00958.x

Affiliations: 1: Monetary Policy Committee, Bank of England 2: London School of Economics Nuffield College, Oxford 3: Ifo Institute for Economic Research

Publication date: 2005-01-01