Structural Unemployment in Finland:
Since the Finnish unemployment rate has rocketed to a very high level in the beginning of the 1990's, it is worth to study to what extent the unemployment rate prevailing today is due to cyclical or to structural reasons. In this paper we try to estimate two different indicators that represent...
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| Main Author: | |
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| Other Authors: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
1997
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| Series: | OECD Economics Department Working Papers
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| Subjects: | |
| Online Access: | Volltext |
| Summary: | Since the Finnish unemployment rate has rocketed to a very high level in the beginning of the 1990's, it is worth to study to what extent the unemployment rate prevailing today is due to cyclical or to structural reasons. In this paper we try to estimate two different indicators that represent the structural part of unemployment, the NAWRU and the NAIRU. The NAWRU (non-accelerating wage rate of unemployment) measures the structural unemployment simply by relating unemployment to wage inflation. The NAIRU (non-accelerating inflation rate of unemployment) in this paper is based on structural estimates of the price setting behaviour of firms and the wage setting behaviour of trade unions. The estimated NAWRU follows very closely the actual unemployment in Finland indicating that it is not the proper measure for the structural unemployment. The estimated NAIRU were at a low level up to the end of the eighties. Since then both the actual unemployment rate and the NAIRU have rocketed. In ... |
| Physical Description: | 1 Online-Ressource (24 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/378343303078 |
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| 520 | |a Since the Finnish unemployment rate has rocketed to a very high level in the beginning of the 1990's, it is worth to study to what extent the unemployment rate prevailing today is due to cyclical or to structural reasons. In this paper we try to estimate two different indicators that represent the structural part of unemployment, the NAWRU and the NAIRU. The NAWRU (non-accelerating wage rate of unemployment) measures the structural unemployment simply by relating unemployment to wage inflation. The NAIRU (non-accelerating inflation rate of unemployment) in this paper is based on structural estimates of the price setting behaviour of firms and the wage setting behaviour of trade unions. The estimated NAWRU follows very closely the actual unemployment in Finland indicating that it is not the proper measure for the structural unemployment. The estimated NAIRU were at a low level up to the end of the eighties. Since then both the actual unemployment rate and the NAIRU have rocketed. In ... | ||
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| spelling | Holm, Pasi Verfasser aut Structural Unemployment in Finland Pasi Holm and Helina Somervouri Paris OECD Publishing 1997 1 Online-Ressource (24 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers Since the Finnish unemployment rate has rocketed to a very high level in the beginning of the 1990's, it is worth to study to what extent the unemployment rate prevailing today is due to cyclical or to structural reasons. In this paper we try to estimate two different indicators that represent the structural part of unemployment, the NAWRU and the NAIRU. The NAWRU (non-accelerating wage rate of unemployment) measures the structural unemployment simply by relating unemployment to wage inflation. The NAIRU (non-accelerating inflation rate of unemployment) in this paper is based on structural estimates of the price setting behaviour of firms and the wage setting behaviour of trade unions. The estimated NAWRU follows very closely the actual unemployment in Finland indicating that it is not the proper measure for the structural unemployment. The estimated NAIRU were at a low level up to the end of the eighties. Since then both the actual unemployment rate and the NAIRU have rocketed. In ... Economics Finland Somervouri, Helina ctb https://doi.org/10.1787/378343303078 Verlag kostenfrei Volltext |
| spellingShingle | Holm, Pasi Structural Unemployment in Finland Economics Finland |
| title | Structural Unemployment in Finland |
| title_auth | Structural Unemployment in Finland |
| title_exact_search | Structural Unemployment in Finland |
| title_exact_search_txtP | Structural Unemployment in Finland |
| title_full | Structural Unemployment in Finland Pasi Holm and Helina Somervouri |
| title_fullStr | Structural Unemployment in Finland Pasi Holm and Helina Somervouri |
| title_full_unstemmed | Structural Unemployment in Finland Pasi Holm and Helina Somervouri |
| title_short | Structural Unemployment in Finland |
| title_sort | structural unemployment in finland |
| topic | Economics Finland |
| topic_facet | Economics Finland |
| url | https://doi.org/10.1787/378343303078 |
| work_keys_str_mv | AT holmpasi structuralunemploymentinfinland AT somervourihelina structuralunemploymentinfinland |