A reply to “banking crises, labor reforms, and unemployment: A comment”

Lorenzo E. Bernal-Verdugo, Davide Furceri and Dominique Guillaume

Journal of Comparative Economics, 2015, vol. 43, issue 4, 1142-1147

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.

Keywords: Labor market; Unemployment; Reforms; Banking crises (search for similar items in EconPapers)
JEL-codes: D7 E29 E32 J60 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jcecon:v:43:y:2015:i:4:p:1142-1147

DOI: 10.1016/j.jce.2015.11.001

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