Unemployment in an Interdependent World



Table A2: Summary statistics

Variable

Description

Mean

Std. Dev.

Min

Max

u

unemployment rate (percent)

7.994

4.294

0.396

24.042

b

tax wedge (percent)

58.385

18.212

21.008

96.973

PMR

product market

3.864

1.290

1.050

6.000

Union density

regulation (index, 1-10)
(percent)

3.864

1.290

1.050

6.000

High corporatism

(dummy)

0.554

0.498

0.000

1.000

EPL

employment protection
legislation (index, 1-10)

2.080

1.082

0.200

4.188

gap

output gap (percent)

-1.019

2.538

-12.211

6.297

u*

Wxu

2.399

3.144

0.037

13.875

b*

Wxb

18.182

23.394

0.269

89.783

PMR*

W x PMR

1.230

1.679

0.011

8.181

Union density*

W x union density

12.426

15.974

0.180

71.088

High corporatism*

W x high corporatism

0.176

0.245

0.001

1.096

EPL*

W x EPL

0.657

0.882

0.009

4.252

gap*

W x gap

-0.303

0.990

-5.803

2.699

k*/k

(W x (K/L)) / (K/L)

0.942

1.798

0.000

9.474

TFP shock

-0.002

0.023

-0.099

0.054

TOT shock

-0.037

0.066

-0.217

0.187

Real interest rate shock

4.759

2.194

-9.282

14.122

Demand shock

0.033

0.062

-0.138

0.236

All data (except weighting matrix W) are from Bassanini and Duval (2006). Number of observations
N = 397. Weights are based on α
1 = α2 = 1 and δ = 1; standard normalization. Foreign variables are
not to be interpreted as means, since weights do not add up to 1 (due to inclusion of rest of the world in
calculation of weights).

48



More intriguing information

1. IMMIGRATION AND AGRICULTURAL LABOR POLICIES
2. The name is absent
3. The name is absent
4. Connectionism, Analogicity and Mental Content
5. Proceedings of the Fourth International Workshop on Epigenetic Robotics
6. The name is absent
7. The name is absent
8. Using Surveys Effectively: What are Impact Surveys?
9. Sustainability of economic development and governance patterns in water management - an overview on the reorganisation of public utilities in Campania, Italy, under EU Framework Directive in the field of water policy (2000/60/CE)
10. The name is absent