 The Impact of Economic and Financial Crises on Unemployment Rate in European UnionIonuț Jianu EconStor Conference Papers from ZBW - Leibniz Information Centre for Economics Abstract: This paper aims at clustering the European Union member states into two groups of countries (country-groups with inclusive institutions / extractive institutions) and, depending on them, to assess the impact of financial shocks on unemployment during 2003-2017 period, given that the unemployment was the main channel by which the economic and financial crisis influenced the social developments in the European Union. In order to achieve the objective of the paper, I used panel Panel Estimated Generalized Least Squares method for both clusters, this being weighted by Period SUR option to remove ex-ante the possible inconveniences of the model. The quality of institutions wasn't used yet as a clustering criterion for unemployment assessments and this approach can bring a real value added in this research area. The results show that the institutios quality are a relevant explanatory factor for economic and social development. This assessment also confirm the lower resilience of labour markets at the effects of the economic and financial crisis in the member states with extractive institutions. Keywords: unemployment; financial shocks; crisis; dummy; youth (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:zbw:esconf:194294 Access Statistics for this paper More papers in EconStor Conference Papers from ZBW - Leibniz Information Centre for Economics Contact information at EDIRC. |
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