Original scientific paper

Long-Term Unemployment in the Varieties of Capitalism

Alberto Chilosi ; Department of Economics and Faculty of Political Sciences, University of Pisa, Pisa, Italy

Abstract

This paper considers how the different varieties of capitalism affect the rate of long-term unemployment. The liberal market variety, where employment protection is the lowest, presents lower rates of long-term unemployment than the continental European, or the Mediterranean varieties. In the latter both employment protection and long-term unemployment are the highest and labour market participation the lowest. But the social-democratic Scandinavian variety gets the best of both worlds: low rates of long-term unemployment, high rates of labour participation, lower degree of inequality, together with relatively
high levels of employment protection. Low rates of long-term unemployment and high levels of labour participation are also produced by the far-Eastern Asian variety, but at the cost of a markedly dualistic labour market structure.

Keywords

Varieties of Capitalism; Long-term unemployment; Employment protection

Hrčak ID:

120960

URI

https://hrcak.srce.hr/120960

Publication date:

1.5.2014.

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