The "Employment Intensity" of Growth in Europe

The paper elaborates on the employment intensity of growth. Previous evidence regarding this question is surveyed. Empirical results concerning Europe and selected other industrial countries reveal that the cyclical link between unemployment and growth is still stable in the nineties. However, the relation strongly depends on the variable chosen to represent the labor market situation. Test on an asymmetric relation leads to ambitious results. Cross-country and panel evidence suggest that the employment intensity of growth is influenced by the country's wage setting process, the share of the service sector, and labor market flexibility. A clear-cut importance of exchange rate volatility cannot be found. Some conclusions with regard to economic policy are drawn.

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Year of publication:	2001
Authors:	Döpke, Jörg
Publisher:	Kiel : Kiel Institute for the World Economy (IfW)
Subject:	Wirtschaftswachstum \| Arbeitslosigkeit \| Beschäftigung \| Schätzung \| Drei-Sektoren-Hypothese \| Arbeitskosten \| Arbeitsmarktflexibilisierung \| Wechselkurs \| Volatilität \| Okuns Law \| EU-Staaten \| Unemployment \| Employment \| Okun's law \| European monetary union

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Series:	Kiel Working Paper ; 1021
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	85973658X [GVK] hdl:10419/17746 [Handle] RePEc:zbw:ifwkwp:1021 [RePEc]
Classification:	E2 - Consumption, Saving, Production, Employment, and Investment ; C2 - Econometric Methods: Single Equation Models
Source:	EconStor