Capital Mobility and Unemployment Dynamics: Evidence from a Panel of OECD Countries

Giovanna Vallanti

CEP Discussion Papers from Centre for Economic Performance, LSE

Abstract: We use a panel of 20 OECD countries over a 30-year period to estimate the implications of international capital mobility for unemployment. We find that the increase in capital flows since the mid1980s has contributed to an amplification of the impulse response of unemployment to country-specific shocks and to a fall in the persistence of unemployment in response to the same shocks.

Keywords: unemployment persistence; unemployment volatility; international capital flows; OECD countries (search for similar items in EconPapers)
JEL-codes: E24 E32 F15 F21 (search for similar items in EconPapers)
Date: 2005-04
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (2)

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Working Paper: Capital mobility and unemployment dynamics: evidence from a panel of OECD countries (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:cep:cepdps:dp0684

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