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Do labor market rigidities matter for business cycles? Yes they do

Stefano Gnocchi and Evi Pappa

BSE Working Paper: 411
Keywords: 

Labor market institutions, Business cycles, OECD countries, rank sum test, active labor market policies

JEL codes: 

E32, E6, J01, J08

Abstract

We study whether labor market institutions affect the volatility and correlations of macroeconomic variables for a sample of 20 OECD countries. Labor market rigidities are characterized with a number of indicators

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