We explore the macroeconomic effects of sectoral shifts for 15 European countries. An exten-sive panel is constructed that allows us to assess the impact of labour reallocation on unem-ployment in the European context. Indexes of labour market turbulence based on alternative sectoral disaggregation are constructed. The effect of labour reallocation on unemployment is found to be positive and significant in all specifications. This remains robust when we take into account volatility measures in the model.
On the significance of labour reallocation for European unemployment: Evidence from a panel of 15 countries / Bakas, Dimitrios; Panagiotidis, Theodore; Pelloni, Gianluigi. - In: JOURNAL OF EMPIRICAL FINANCE. - ISSN 0927-5398. - STAMPA. - 39:B(2016), pp. 229-240. [10.1016/j.jempfin.2016.05.003]
On the significance of labour reallocation for European unemployment: Evidence from a panel of 15 countries
PELLONI, GIANLUIGI
2016
Abstract
We explore the macroeconomic effects of sectoral shifts for 15 European countries. An exten-sive panel is constructed that allows us to assess the impact of labour reallocation on unem-ployment in the European context. Indexes of labour market turbulence based on alternative sectoral disaggregation are constructed. The effect of labour reallocation on unemployment is found to be positive and significant in all specifications. This remains robust when we take into account volatility measures in the model.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
