From: Fiscal consolidation and unemployment: does EPL matter?: A look at EU countries
(1) | (2) | (3) | (4) | |
---|---|---|---|---|
Action-based fiscal policy variables, 13 EU countries, 1992-2009 | “Top-down” fiscal policy variables | |||
Dependent variable: long-term unemployment ratio | Budget balance | Revenue | Expenditure | Change in structural balance |
Explanatory variables | Action-based | Action-based | Action-based | |
Long-term unemployment share (1 lag) | 0.798** | 0.798** | 0.798** | 0.696** |
[17.80] | [18.43] | [0.0451] | [16.66] | |
Fiscal policy variable | 0.0367 | −0.000789 | −0.107 | −0.470 |
[0.0668] | [−0.000893] | [−0.868] | [−0.927] | |
Constant | 10.19** | 10.25** | 10.17** | 15.95** |
[4.715] | [5.097] | [2.157] | [7.397] | |
Observations | 206 | 206 | 206 | 371 |
R-squared | 0.855 | 0.855 | 0.855 | 0.700 |
Number of countries | 13 | 13 | 13 | 27 |