The persistent labour-market effects of the financial crisis

Marcus Mossfeldt and Pär Österholm

Applied Economics Letters, 2011, vol. 18, issue 7, 637-642

Abstract: This article estimates the effects of the financial crisis on the Swedish labour market. Using an unobserved components model and an external forecast, we estimate a future path for the Nonaccelerating Inflation Rate of Unemployment (NAIRU). Judging by this analysis, the labour market will be in equilibrium again in 2013. Linking the NAIRU to other labour-market variables through an estimated vector error correction model and population projections, it is found that this new equilibrium is associated with a smaller equilibrium labour force and lower equilibrium employment.

Date: 2011
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Working Paper: The Persistent Labour-Market Effects of the Financial Crisis (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:18:y:2011:i:7:p:637-642

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DOI: 10.1080/13504851003781424

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