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Table 11 Descriptive statistics, 1971-2008, 18 countries

From: Who bears the cost of the business cycle? Labor-market institutions and volatility of the youth unemployment rate

Variable

mean

s.d.

min

max

Unemployment rate for 15-24

13.855

6.744

0.648

39.267

Unemployment rate for 25-34

6.605

3.570

0.392

21.963

Unemployment rate for 45-54

4.365

2.384

0.000

14.013

Population 15-24 / Population 15-55 (%)

24.902

5.555

17.783

34.177

Population 25-34 / Population 15-55 (%)

26.894

1.856

17.783

33.956

GDP growth rate lagged one year

0.021

0.018

−0.080

0.080

Employment rate for 15-24

52.033

11.854

26.804

75.023

Employment rate for 25-34

87.009

4.271

72.463

96.910

Employment rate for 45-54

86.865

3.687

75.000

96.391

Employment Protection Legislation Index(EPL Index)

0.00

1.00

−1.803

1.920

Benefit duration ratio

0.00

1.00

−1.429

1.738

Benefit replacement ratio

0.00

1.00

−1.993

15.961

Union density

0.00

1.00

−1.583

2.210

Union contract coverage rate

0.00

1.00

−2.203

1.172

Union centralization index

0.00

1.00

−1.307

1.920

Union coordination index

0.00

1.00

−1.632

1.451

  1. Note: Number of observations is 507, except for GDP growth rate lagged one year. Number of observations for GDP growth rate lagged one year is 489. Each institution index is normalized. The unemployment rate of Norway is 0% for 1973, 1974, 1977, 1979.