The driving force of labor force participation in developed countries
Ivan Kitov () and
Oleg Kitov ()
MPRA Paper from University Library of Munich, Germany
The evolution of labor force participation rate is modeled using a lagged linear function of real economic growth, as expressed by GDP per capita. For the U.S., our model predicts at a two-year horizon with RMSFE of 0.28% for the period between 1965 and 2007. Larger part of the deviation between predicted and measured LFP is explained by artificial dislocations in measured time series induced by major revisions to the CPS methodology in 1979 and 1989. Similar models have been developed for Japan, the UK, France, Italy, Canada, and Sweden.
Keywords: labor force participation; real GDP per capita; prediction (search for similar items in EconPapers)
JEL-codes: D31 C20 E60 J20 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-lab and nep-mac
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Journal Article: The Driving Force of Labor Force Participation in Developed Countries (2008)
Working Paper: The driving force of labor force participation in developed countries (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:8677
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