Regional Evolutions in Finland: Panel Data Results of a VAR Approach to Labour Market Dynamics

Autor:	Petteri Mäki-Arvela
Rok vydání:	2003
Předmět:	Shock (economics) Regional development Operations research Order (exchange) Econometrics Economics General Social Sciences Time series Market dynamics Regional differences General Environmental Science Panel data
Zdroj:	Regional Studies. 37:423-443
ISSN:	1360-0591 0034-3404
Popis:	M AKI -A RVELA P. (2003) Regional evolutions in Finland: panel data results of a VAR approach to labour market dynamics, Reg. Studies 37 , 423- 443. The purpose of this paper is firstly to evaluate how large and sustained regional differences are in Finland and how the division of these divergences has been manifested during different phases of business fluctuations. Secondly, a dynamic VAR-model is formulated and estimated, using cross-section time series data in order to simulate the responses to shocks in relative demand of labour. One concludes that relatively large and sustained divergences still exist among the economic regions of Finland. The principal finding of the simulations is that the adjustment process to external shock is inefficient and long-run responses are large, almost hysteretic, unless differences in regional amenities are assumed to be fixed. In addition, it can be observed that participation rates are the most dominant adjustment mechanism of regional labour market dynamics rather ...
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::e390149b4c371c314e7cde35ef8ad0cd https://doi.org/10.1080/0034340032000089013 Zobrazit plný text záznamu Plný text ve formátu PDF