Youth Employment in Europe: Institutions and Social Capital Explain Better than Mainstream Economics

Bruno Contini ()

No 102, LABORatorio R. Revelli Working Papers Series from LABORatorio R. Revelli, Centre for Employment Studies

Abstract: Why did employment growth - high in the last decade– take place at the expense of young workers in the countries of Central and Southern Europe ? This is the question addressed in this paper. Youth unemployment has approached or exceeded 20% despite a variety of factors, common to most EU countries. According to neo-classical economics all would be expected to exert a positive impact on its evolution: population ageing and the demographic decline, low labor cost of young workers, flexibility of working arrangements, higher educational attainment, low unionization of young workers, early retirement practices of workers 50+. But neither seems to provide a convincing explanation. Historically based institutions and political tradition, cultural values, social capital – factors that go beyond the standard explanation of economic theory – provide a more satisfying interpretation.

Date: 2010
New Economics Papers: this item is included in nep-eec, nep-eur, nep-hme, nep-lab and nep-soc
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Citations: View citations in EconPapers (10)

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Related works:
Journal Article: Youth employment in Europe: do institutions and social capital explain better than mainstream economics? (2012)
Working Paper: Youth Employment in Europe: Institutions and Social Capital Explain Better than Mainstream Economics (2010)
Working Paper: Youth Employment in Europe: Institutions and Social Capital Explain Better than Mainstream Economics (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:cca:wplabo:102

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