Table 2 Common labour market disturbances: 1970–2013

From: Labour mobility and labour market adjustment in the EU

	Employment growth			Unemployment rate			Participation rate
	β-coefficient	t-statistic	R ² adj	β-coefficient	t-statistic	R ² adj	β-coefficient	t-statistic	R ² adj
Austria	0.49	4.9	0.34	0.41	11.0	0.73	1.29	13.9	0.82
Belgium	0.76	7.3	0.55	0.81	10.4	0.71	0.98	19.5	0.90
Germany	0.74	5.5	0.41	0.68	6.6	0.50	1.10	33.9	0.96
Denmark	0.59	3.3	0.19	0.61	6.7	0.50	0.26	2.3	0.09
Greece	0.57	1.6	0.04	1.62	6.1	0.46	1.34	19.5	0.90
Spain	2.43	9.5	0.68	2.43	16.9	0.87	1.95	26.2	0.94
Finland	1.40	4.9	0.35	0.98	5.7	0.41	0.20	2.1	0.07
France	0.86	9.4	0.67	1.24	21.3	0.91	0.60	14.2	0.82
Ireland	1.89	5.1	0.37	0.93	4.3	0.28	1.35	15.9	0.85
Italy	0.80	5.1	0.37	0.68	11.1	0.74	0.73	16.0	0.89
Luxembourg	0.37	2.5	0.11	0.50	7.1	0.53	0.53	10.5	0.72
Netherlands	0.85	5.7	0.43	0.46	4.8	0.34	3.06	19.4	0.90
Portugal	1.20	5.5	0.41	0.80	4.9	0.34	1.27	19.2	0.86
Sweden	1.00	5.1	0.37	0.75	5.9	0.43	0.17	1.4	0.02
UK	0.96	5.5	0.41	0.77	7.5	0.56	0.50	7.4	0.55
Average	0.99		0.38	0.91		0.55	1.02		0.69
OLS estimate	0.99	16.8	0.30	0.91	16.2	0.28	1.01	11.8	0.17
Average D&F (1995)			0.20			0.89			0.27

Note: The coefficients are from regressions of each variable on the relative EU-15 aggregate; they represent the response of a country-specific variable to the EU aggregate. Estimation over the sample period 1970–2013. D&F stands for Decressin and Fatás (1995)
Source: own calculations, based on the AMECO database of DG ECFIN

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