Youth unemployment in Europe: persistence and macroeconomic determinants
In: CESifo working paper series 4696
In: Labour markets
Abstract
This paper investigates the statistical features and the macroeconomic determinants of youth unemployment in a number of European countries. First, it explores its short and long memory properties by estimating both autoregressive and fractional integration models. This type of analysis sheds light on the degree of persistence of the series, and on whether policy actions are required for highly persistent series. Second, it investigates the main determinants of youth unemployment in Europe by estimating fractional cointegration models. The evidence suggests that this series is highly persistent in all the countries examined, and that in some of them there is a statistically significant long-run equilibrium relationship linking it to macroeconomic variables such as GDP and inflation.
Verfügbarkeit
Sprachen
Englisch
Verlag
Univ., Center for Economic Studies
Seiten
19 S.
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