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Long-Term Unemployment in the Varieties of Capitalism

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  • 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. JEL Classification: J64, P1

Suggested Citation

  • Alberto Chilosi, 2014. "Long-Term Unemployment in the Varieties of Capitalism," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 17(1), pages 69-78, May.
    • Handle: RePEc:zag:zirebs:v:17:y:2014:i:1:p:69-78
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    References listed on IDEAS

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    Cited by:

    1. Ali Rıza ÖZDEMİR & Burak DARICI, 2015. "Which Group of Individuals are subjected to Get Long-Term Unemployed During and After a Recession? Evidence from TurkeyAuthor-Name: Hacı Mehmet TAŞÇI," Sosyoekonomi Journal, Sosyoekonomi Society, issue 23(24).
    2. Schneider, Martin R., 2021. "Labor-Management Relations and Varieties of Capitalism," GLO Discussion Paper Series 934, Global Labor Organization (GLO).

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    More about this item

    Keywords

    Varieties of Capitalism; Long-term unemployment; Employment protection;
    All these keywords.

    JEL classification:

    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General
    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies

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