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.
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 [10.1016/j.jce.2015.11.001].
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 [10.1016/j.jce.2015.11.001]. | |
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 |
File in questo prodotto:
File | Descrizione | Tipologia | Licenza | |
---|---|---|---|---|
JCE 2015.pdf | N/A | Administrator Richiedi una copia |