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EnglishAleksynka (2015) points to some important methodological flaws in the labor market indicators data used in Bernal-Verdugo, Furceri and Guillaume (2013) [BFG]. This paper revisits the empirical findings presented in BFG, and shows that the results and conclusions are little affected by these methodological flaws. In particular, we find that: (i) while in countries with more flexible labor markets the impact of banking crises is sharper but short-lived, in countries with more rigid labor markets the effect is initially more subdued but highly persistent; (ii) comprehensive labor market reforms have a positive impact on unemployment, albeit only in the medium term.
Bernal-verdugo, L., Furceri, D., & Guillaume, D. (2015). A reply to "banking crises, labor reforms, and unemployment: A comment". JOURNAL OF COMPARATIVE ECONOMICS, 43(4), 1142-1147.
| Data di pubblicazione: | 2015 |
| Titolo: | A reply to "banking crises, labor reforms, and unemployment: A comment" |
| Autori: | |
| Citazione: | Bernal-verdugo, L., Furceri, D., & Guillaume, D. (2015). A reply to "banking crises, labor reforms, and unemployment: A comment". JOURNAL OF COMPARATIVE ECONOMICS, 43(4), 1142-1147. |
| Rivista: | |
| Digital Object Identifier (DOI): | http://dx.doi.org/10.1016/j.jce.2015.11.001 |
| Abstract: | Aleksynka (2015) points to some important methodological flaws in the labor market indicators data used in Bernal-Verdugo, Furceri and Guillaume (2013) [BFG]. This paper revisits the empirical findings presented in BFG, and shows that the results and conclusions are little affected by these methodological flaws. In particular, we find that: (i) while in countries with more flexible labor markets the impact of banking crises is sharper but short-lived, in countries with more rigid labor markets the effect is initially more subdued but highly persistent; (ii) comprehensive labor market reforms have a positive impact on unemployment, albeit only in the medium term. |
| Appare nelle tipologie: | 1.01 Articolo in rivista |
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http://hdl.handle.net/10447/243273
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