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Table 4 Determinants of the total number of labour market reforms

From: A decade of labour market reforms in the EU: insights from the LABREF database

 

(1)

(2)

(3)

(4)

Dependent variable: Overall number of reforms

    

Per-capita GDP in 2000

−0.188***

−0.181***

−0.157***

 
 

(0.053)

(0.050)

(0.046)

 

New Member State (dummy)

−5.497***

−5.966***

−5.761***

 
 

(1.264)

(1.221)

(1.180)

 

Unemployment rate (1st lag)

0.034

0.179*

0.186**

0.178

 

(0.090)

(0.091)

(0.086)

(0.171)

Output gap < −4 (dummy)

4.343***

 

2.943*

3.275

 

(1.175)

 

(1.709)

(2.018)

Year > 2007 (dummy)

 

3.389***

  
  

(0.708)

  

Parliamentary election year (dummy)

−1.858***

−2.165***

−2.167***

−2.116***

 

(0.673)

(0.648)

(0.682)

(0.653)

1 year after parl. elections (dummy)

0.969

0.720

0.632

0.702

 

(0.784)

(0.759)

(0.740)

(0.732)

Fraction of seats held by the government in Parliament

9.867***

7.758**

6.506*

2.812

(3.728)

(3.503)

(3.483)

(3.773)

Fixed exchange rate (dummy)

0.413

−0.184

0.045

0.340

 

(0.609)

(0.602)

(0.580)

(1.367)

Real interest rate spread (1st lag)

0.070

0.030

0.066

0.098

 

(0.116)

(0.115)

(0.139)

(0.143)

Net lending general government (1st lag)

−0.129*

−0.050

−0.123

−0.109

 

(0.070)

(0.077)

(0.079)

(0.094)

Year dummies

No

No

Yes

Yes

Country dummies

No

No

No

Yes

Observations

302

302

302

302

R-squared

0.225

0.258

0.322

0.383

  1. Notes: (1) OLS regressions. (2) The sample includes EU-27 countries for the period 2000–2011. (3) Robust standard errors in parentheses. Asterisks indicate estimated coefficients that are statistically significant at the 1% (***), 5% (**), or 10% (*) level. (4) See Appendix C for the definition and the source of explanatory variables.