The ins and outs of Greek unemployment in the Great Depression

Joan Daouli (), Michael Demoussis (), Nicholas Giannakopoulos () and Nikolitsa Lambropoulou

MPRA Paper from University Library of Munich, Germany

Abstract: We investigate the unemployment inflows and outflows using micro-data from the Greek Labour Force Survey (1998-2013). Focusing on the post-2008 recessionary period, aggregate unemployment decompositions show that both, inflow and outflow rates affect unemployment variations. In particular, early in the recession the inflow rate dominates while later the outflow rate takes over. These findings remain unaltered when unemployment persistence and low transition rates are taken into account. Furthermore, applying multinomial regression techniques we find that the ins and outs of unemployment vary with individual-specific heterogeneity (gender, age, education, etc.). This heterogeneity however exhibits a differentiated impact in the pre- and post-2008 periods. Overall, the design of an effective employment policy in Greece needs to take into consideration the exceptionally low job finding rate (10%) and its composition in the ongoing labour market crisis.

Keywords: Unemployment; worker flows; transition probabilities; unemployment decomposition (search for similar items in EconPapers)
JEL-codes: C5 C50 E32 J6 (search for similar items in EconPapers)
Date: 2015-05-01
New Economics Papers: this item is included in nep-eur, nep-ger and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:66299

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