{"id":54853,"date":"2023-12-01T18:28:52","date_gmt":"2023-12-01T17:28:52","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/one-troika-fits-all-job-crash-pro-market-structural-reform-and-austerity-driven-therapy-in-portugal\/"},"modified":"2025-10-22T22:19:26","modified_gmt":"2025-10-22T20:19:26","slug":"one-troika-fits-all-job-crash-pro-market-structural-reform-and-austerity-driven-therapy-in-portugal","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/54853\/","title":{"rendered":"One Troika fits all? Job crash, pro-market structural reform and austerity-driven therapy in Portugal"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-54853","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"This article assesses the effectiveness of the labour market reforms implemented in Portugal as part of the Troika's structural reform package. Using an ARDL-bounds test model to perform the econometric estimation, this investigation examines the long-run relationship between unemployment, capital accumulation and labour market variables for the 1985-2013 period. The econometric estimation suggests that capital accumulation has been the main driver of long-run unemployment, whilst labour market variables have played a minor explanatory role. These results suggest that Portuguese NAIRU is endogenous to capital accumulation and do not support the Troika's emphasis on labour market reforms as a strategy to reduce long-term unemployment.","onlinedate":"2020-08-01 02:00:00","lang":"English","publication_series":"","publication_date":"20200801","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":null,"zip":null,"link":"http:\/\/www.springer.com\/10663","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"47","monthly_report_pages":"495-521","monthly_report_pages_sort":"495","issue":"3","journal":"Empirica","publisher":"","invisible":false,"external":true,"embargo_date":null,"types":[83083],"research_groups":[3510],"collaboration":"","persons":[14725,14731],"persons_data":"[{\"personId\":14725,\"personName\":\"Diogo Martins\",\"organisationNames\":[]},{\"personId\":14731,\"personName\":\"Bruno Dam\u00e1sio\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>One Troika fits all? Job crash, pro-market structural reform and austerity-driven therapy in Portugal - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/54853\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"One Troika fits all? 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