EconPapers    
Economics at your fingertips  
 

Euro, Crisis and Unemployment: Youth Patterns, Youth Policies?

Atanu Ghoshray, Javier Ordóñez and Hector Sala

No 9952, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This paper examines the occurrence of structural breaks in European unemployment associated with major events experienced by the European economies at an institutional level: the creation of the European and Monetary Union (EMU) in 1999, and the Euro/financial crisis in 2008-2009, which was followed by a general and intensive reform process in the years afterwards. Beyond the well documented asymmetries across countries, we uncover different responses of adult and youth unemployment rates. While adult unemployment is more prone to experience structural breaks, youth unemployment is more sensitive to business cycle oscillations. This has been especially so in the recent crisis and calls for fine tuning policy measures specifically targeted to youth unemployed in bad times. One important implication of our findings is that generic labour market reforms are not effective enough to solve the youth unemployment problem across Europe. We point to educational policies that raise average qualifications and help school-to-work transitions as suitable complementary cures.

Keywords: Eurozone; crisis; structural breaks; unemployment; youth; education (search for similar items in EconPapers)
JEL-codes: F66 J08 J64 O52 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2016-05
New Economics Papers: this item is included in nep-eec and nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

Published - published in: Economic Modelling, 2016, 58, 442-453.

Downloads: (external link)
https://docs.iza.org/dp9952.pdf (application/pdf)

Related works:
Journal Article: Euro, crisis and unemployment: Youth patterns, youth policies? (2016) Downloads
Working Paper: Euro, crisis and unemployment: Youth patterns, youth policies? (2016) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iza:izadps:dp9952

Ordering information: This working paper can be ordered from
IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany

Access Statistics for this paper

More papers in IZA Discussion Papers from Institute of Labor Economics (IZA) IZA, P.O. Box 7240, D-53072 Bonn, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Holger Hinte ().

 
Page updated 2025-03-30
Handle: RePEc:iza:izadps:dp9952