TY  - RPRT
        AU  - Rault, Christophe
AU  - Vaubourg, Anne-Gaël
        TI  - Labour Market Institutions and Unemployment: Does Finance Matter?
        PY  - 2011/Mar/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 5606
        UR  - https://www.iza.org/index.php/publications/dp5606
        AB  - We explore whether finance influences the impact of labour market institutions on unemployment. Using a data set of 18 OECD countries over 1980-2004, we estimate a panel VectorAutoRegressive model. We check whether causalities from labour market variables to unemployment are affected by financial factors. In Belgium, Italy, Australia, Japan and Spain, accounting for financial indicators mitigates the benefits of labour market flexibilization or makes it harmful to employment. In Austria, Canada, Finland and Portugal, it reduces its detrimental impact or makes it beneficial. In Ireland and Netherlands, both effects prevail, depending on the labour market indicator used.
        KW  - financial factors
KW  - labour market
KW  - unemployment
KW  - institutional interactions
KW  - panel VAR
        ER  -