Empirica – Journal of European Economics

Sponsored by the Austrian Economic Association and the Austrian Institute of Economic Research

Empirica publishes empirical and theoretical work on all economic aspects of European Integration. The topics may range from all challenges concerning the deepening of the European Union (Single Market, Lisbon Agenda, EMU) to enlargement and the external relations of the EU (globalisation).

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Diogo Martins, Bruno Damásio
One Troika fits all? Job crash, pro-market structural reform and austerity-driven therapy in Portugal
Empirica, 2020, 47(3), S.495-521, http://www.springer.com/10663
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.
Forschungsbereich:Arbeitsmarkt, Einkommen und soziale Sicherheit
Sprache:Englisch

Managing Editor

Univ.-Prof. Mag. Dr. Fritz Breuss

Funktion: Ökonom (Senior Economist), Managing Editor Empirica