Do labour market reforms pay off? Unemployment and capital accumulation in Portugal

Detalhes bibliográficos
Autor(a) principal: Damásio, Bruno
Data de Publicação: 2017
Outros Autores: Martins, Diogo
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/13133
Resumo: The aim of this paper is to study the long-run relationship between unemployment, capital accumulation and labour market variables in Portugal for the 1985Q1-2013Q4 period. We use an ARDL - bounds test model to perform the econometric estimation. We find evidence that capital accumulation has been the main driver of long-run unemployment (NAIRU), whilst labour market variables have played either a negligible or an existent explicative role. It suggests that Portuguese NAIRU is endogenous relative to capital accumulation. Consequently, we conclude that the labour market reforms proposed by Troika were inadequate to the Portuguese case as they were based upon a theoretical framework (exogenous NAIRU model) that was not representative of the Portuguese labour market.
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spelling Do labour market reforms pay off? Unemployment and capital accumulation in PortugalNAIRUUnemploymentCapital AccumulationLabour Market InstitutionsARDLBounds TestPost Keynesian EconomicsThe aim of this paper is to study the long-run relationship between unemployment, capital accumulation and labour market variables in Portugal for the 1985Q1-2013Q4 period. We use an ARDL - bounds test model to perform the econometric estimation. We find evidence that capital accumulation has been the main driver of long-run unemployment (NAIRU), whilst labour market variables have played either a negligible or an existent explicative role. It suggests that Portuguese NAIRU is endogenous relative to capital accumulation. Consequently, we conclude that the labour market reforms proposed by Troika were inadequate to the Portuguese case as they were based upon a theoretical framework (exogenous NAIRU model) that was not representative of the Portuguese labour market.ISEG - Departamento de EconomiaRepositório da Universidade de LisboaDamásio, BrunoMartins, Diogo2017-02-07T14:32:59Z20172017-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/13133engDamásio, Bruno Diogo Martins .2017. "Do labour market reforms pay off? Unemployment and capital accumulation in Portugal". Instituto Superior de Economia e Gestão. DE Working papers nº 1-2017/DE/DM2183-1815info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:43:15Zoai:www.repository.utl.pt:10400.5/13133Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:59:09.816101Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Do labour market reforms pay off? Unemployment and capital accumulation in Portugal
title Do labour market reforms pay off? Unemployment and capital accumulation in Portugal
spellingShingle Do labour market reforms pay off? Unemployment and capital accumulation in Portugal
Damásio, Bruno
NAIRU
Unemployment
Capital Accumulation
Labour Market Institutions
ARDL
Bounds Test
Post Keynesian Economics
title_short Do labour market reforms pay off? Unemployment and capital accumulation in Portugal
title_full Do labour market reforms pay off? Unemployment and capital accumulation in Portugal
title_fullStr Do labour market reforms pay off? Unemployment and capital accumulation in Portugal
title_full_unstemmed Do labour market reforms pay off? Unemployment and capital accumulation in Portugal
title_sort Do labour market reforms pay off? Unemployment and capital accumulation in Portugal
author Damásio, Bruno
author_facet Damásio, Bruno
Martins, Diogo
author_role author
author2 Martins, Diogo
author2_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Damásio, Bruno
Martins, Diogo
dc.subject.por.fl_str_mv NAIRU
Unemployment
Capital Accumulation
Labour Market Institutions
ARDL
Bounds Test
Post Keynesian Economics
topic NAIRU
Unemployment
Capital Accumulation
Labour Market Institutions
ARDL
Bounds Test
Post Keynesian Economics
description The aim of this paper is to study the long-run relationship between unemployment, capital accumulation and labour market variables in Portugal for the 1985Q1-2013Q4 period. We use an ARDL - bounds test model to perform the econometric estimation. We find evidence that capital accumulation has been the main driver of long-run unemployment (NAIRU), whilst labour market variables have played either a negligible or an existent explicative role. It suggests that Portuguese NAIRU is endogenous relative to capital accumulation. Consequently, we conclude that the labour market reforms proposed by Troika were inadequate to the Portuguese case as they were based upon a theoretical framework (exogenous NAIRU model) that was not representative of the Portuguese labour market.
publishDate 2017
dc.date.none.fl_str_mv 2017-02-07T14:32:59Z
2017
2017-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/13133
url http://hdl.handle.net/10400.5/13133
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Damásio, Bruno Diogo Martins .2017. "Do labour market reforms pay off? Unemployment and capital accumulation in Portugal". Instituto Superior de Economia e Gestão. DE Working papers nº 1-2017/DE/DM
2183-1815
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv ISEG - Departamento de Economia
publisher.none.fl_str_mv ISEG - Departamento de Economia
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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