Vilken påverkan har arbetsmarknadens institutioner på arbetslöshet? : en ekonometrisk jämförande studie av kapitalstock och arbetsmarknadsinstitutioner

Sammanfattning: This papers’ objective is to examine the effects that labour market institutions (LMI) have on the unemployment in the short- and the medium run throughout the new Keynesian NAIRU theory, but also to make a comparison with the postkeynesian capital stocks’ effect on the unemployment. Thus, it is this papers’ main objective to study the economic effects that LMI, capital accumulation and varied macroeconomic shocks might have on unemployment. The paper uses econometric regression models as a methodological benchmark in order to estimate each independent variable’s level of significance and to approximate the effect each have on the dependent variable. The investigated time period is 15 years and contains the year 1985 to 2000 and includes 20 OECD countries, and is analyzed through a panel data analysis; the fixed effect model. Previous studies regarding this subject have all reached a rather similar conclusion; once the capital stock was included in the model, LMI shows a relatively low explanatory value. This paper mainly differs from these previous studies in the sense that it includes a new variable which have, until now, never been analyzed before. This new variable is “union centralization”, and it shows a great impact on unemployment. The regression result has verified that LMI has a relatively indistinct explanatory value for the unemployment. The only LMI variable that can be concluded to have a significant robust impact is the union centralization. The other variable that also verified a substantial impact is the capital stock.