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Mitigating Long-term Unemployment in Europe

Hiroaki Miyamoto and Suphaphiphat Nujin
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Suphaphiphat Nujin: International Monetary Fund, 700 19th Street NW, Washington, DC20431, United States

IZA Journal of Labor Policy, 2021, vol. 11, issue 1, 27

Abstract: While unemployment rates in Europe declined after the global financial crisis until 2018/2019, the incidence of long-term unemployment, the share of people who have been unemployed for >1 year to the total unemployed, remained high. Moreover, the COVID-19 pandemic could aggravate the long-term unemployment. This paper explores the factors associated with long-term unemployment in European countries using a panel of 25 European countries over the period 2000–2018. We find that skill mismatches, labor market matching efficiency, and labor market policies are associated with the incidence of long-term unemployment. Among the different types of active labor market policies, training and startup incentives are found to be effective in reducing long-term unemployment.

Keywords: long-term unemployment; labor market matching efficiency; active labor market policy (search for similar items in EconPapers)
JEL-codes: J64 J68 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.2478/izajolp-2021-0003

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