Resumen

MINGORANCE-ARNAIZ, Ana Cristina; CALVO-BERNARDINO, Antonio  y  BARRUSO-CASTILLO, Begoña. EFFECTS OF MACROECONOMIC AND INSTITUTIONAL VARIABLES ON UNEMPLOYMENT: THE EUROPEAN CASE (1985-2011). Semest. Econ. [online]. 2017, vol.20, n.42, pp.17-46. ISSN 0120-6346.  https://doi.org/10.22395/seec.v20n42a1.

This paper evaluates the influence that macroeconomic and institutional variables have on the unemployment rate in 14 countries within the European Union. A panel data model is used for the 1985-2011-time period. The model allows concluding which macroeconomic and institutional variables could be more effective for improving the labor market response when facing economic difficulties. It can be concluded then that excessive protection for workers, inter-professional minimum salary wage, as well as a low competition in the product market, can partially explain the higher unemployment rates found in several countries of the European Union.

Palabras clave : Labor market; Unemployment rate; Labor market regulation; product market regula tion; panel data; Europe.

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