Balleer, Almut; Gómez Salvador, Ramón; Turunen, Jarkko - European Central Bank - 2009
into the impact of
the business cycle, observed structural determinants of participation (such as labour market …-out effects or slowly evolving
preferences, cultural factors or institutions.
2
Controlling for business-cycle effects, we first …
developments (i.e. the business cycle). Starting with males, the change in trend observed in the mid-
1990s is mostly accounted for …