Employment Intensity of Economic Growth in Southern Europe: Evidence from Multidimensional Panel Data

Selda Gorkey () and Asli Tasbasi ()
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Selda Gorkey: Department of Economics, Isik University, Istanbul, Turkey
Asli Tasbasi: Department of Economics, Isik University, Istanbul, Turkey

Croatian Economic Survey, 2023, vol. 25, issue 1, 5-32

Abstract: This paper examines the employment intensity of economic growth in Southern Europe during the so-called "post-crisis" recovery years. A labor demand estimation model based on multidimensional panel data from 2010 to 2019 was utilized. Findings from our macroeconomic analysis of eight different industries refute the predictions of neoclassical labor theory in the region. The results further indicate the presence of jobless growth in the areas of overall employment, full-time employment, and overall employees. They also signal that economic growth may have created job opportunities in part-time and youth employment, and among temporary employees, rather than full-time jobs. The paper links these findings to particular characteristics of the regional labor market, discusses their implications for understanding unemployment and formulates recommendations for future policy.

Keywords: economic growth; jobless growth; employment intensity; multidimensional panel data; Southern Europe (search for similar items in EconPapers)
JEL-codes: C23 J23 O47 O52 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:iez:survey:ces-v25_1-2023_gorkey-tasbasi

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