Market Flexibility and the Impact of the Financial Crisis

Artha, I Kadek Dian Sutrisna; Haan, Jakob de

doi:10.2139/ssrn.1950586

Cited by 3 publications

(1 citation statement)

References 15 publications

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“…The third variation accounts for the financial crisis having a potential impact on our estimations (Kadek Dian Sutrisna Artha & de Haan, 2011). Thus we exclude countries that were strongly affected by the financial crisis.…”

Section: Resultsmentioning

confidence: 99%

Meet the need – the role of vocational education and training for the youth labour market

Bolli

Egg

Rageth

2021

Kyklos

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To combat negative trends in the youth labour market, policymakers around the world support vocational education and training (VET) programmes. This paper investigates how enrolment rates in upper‐secondary education programmes – general education, school‐based VET and dual VET – affect ten youth labour market indicators on integration and job quality. We run first‐difference generalized method of moments regressions on panel data of 36 countries for 2004 through 2014. We complement the existing literature by dealing with unobserved heterogeneity across time and reverse causality and by analysing non‐linear effects that might arise due to general equilibrium effects. Our findings show that school‐based VET and dual VET have different effects: school‐based VET's effect on the labour market depends on the outcome indicator and country, whereas dual VET overall improves both labour market integration and job quality. Depending on the labour market indicator, we find evidence for both linear and non‐linear effects. In educational reforms, policymakers should therefore consider the non‐linear and heterogeneous effects of VET.

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Section: Resultsmentioning

confidence: 99%

Meet the need – the role of vocational education and training for the youth labour market

Bolli

Egg

Rageth

2021

Kyklos

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More alike than different: the Spanish and Irish labour markets before and after the crisis

Agnese

Salvador

2012

IZA Journal of European Labor Studies

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Spain and Ireland might seem at first to feature very different labour markets, which go from very tight to very flexible labour conditions. Our analysis, however, goes beyond this simplistic argument and brings to light some important similarities. For this purpose, we estimate a dynamic multi-equation structural model for each country and offer two sets of dynamic simulations that account for the swings of the unemployment rates before and after the 2007 crisis. Our results suggest looking beyond the degree of flexibility in both labour markets and focusing instead on other variables usually neglected by more conventional approaches. In particular, such variables as the growth of capital stock, the growth of labour productivity, and demographics, succeed in explaining a great part of the changes in unemployment in both countries.

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Determinants of the Real Impact of Banking Crises: A Review and New Evidence

2014

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We examine which variables are robust in explaining crosscountry differences in the real impact of systemic banking crises. Based on a meta-analysis, we identify 21 variables frequently used as determinants of the severity of crises. Employing nine proxies for crisis severity, we find that large current account imbalances are the most robust determinant of the real impact of banking crises. Countries with a high GDP per capita have more prolonged downfalls after the occurrence of a banking crisis. Exchange rate developments and pre-crisis GDP growth are related to the peak-to-trough impact of a banking crisis.

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Market Flexibility and the Impact of the Financial Crisis

Cited by 3 publications

References 15 publications

Meet the need – the role of vocational education and training for the youth labour market

Meet the need – the role of vocational education and training for the youth labour market

More alike than different: the Spanish and Irish labour markets before and after the crisis

Determinants of the Real Impact of Banking Crises: A Review and New Evidence

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