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Don’t trust anybody over 30: youth unemployment and Okun’s law in CEE countries

Oliver Hutengs and Georg Stadtmann ()
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Oliver Hutengs: Europa-Universität Viadrina, Lehrstuhl für Volkswirtschaftslehre, Wirtschaftswissenschaftliche Fakultät, insb. Makroökonomik
Georg Stadtmann: University of Southern Denmark, Department of Business and Economics

Bank i Kredyt, 2014, vol. 45, issue 1, 1-16

Abstract: In recent years youth unemployment rates across Europe soared, causing the European Commission to take actions through initiatives to counter this development. This article examines youth unemployment development in selected CEE countries and compares them to the EU-15. We use Okun’s law and estimate age and country specific Okun coefficients for five different age cohorts. Our results show that young people display much higher Okun coefficients than their older peers, thus confirming that young people are more prone to macroeconomic shocks. This result might be a justification for additional governmental intervention and active labour market policies favouring young people.

Keywords: Okun’s law; labour market; youth unemployment (search for similar items in EconPapers)
JEL-codes: E24 F50 C23 (search for similar items in EconPapers)
Date: 2014
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