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This article focuses on the impact of financial crises on female labour participation and unemployment. After a review of the literature, we present new econometric results on the impact of past financial crises. We employ the random effects panel estimation method on a large set of countries for the period 1980-2005. The regressions include many control variables, and obtain also results on the severity of financial crises for economies at different levels of development and the persistence of the impact on female unemployment. For robustness checks and sensitivity analysis, alternative definitions of crises have been used. Although we are aware of the peculiarities of the last crisis -especially its global nature -we think that our results on past financial crises, together with key evidences on the last crisis, can favour a better definition of appropriate policy actions.Cet article s'inte´resse a`l'impact des crises financie`res sur la participation des femmes sur le marched u travail et sur le taux de choˆmage fe´minin. Apre`s avoir passe´en revue la litte´rature sur le sujet, nous pre´sentons de nouveaux re´sultats e´conome´triques sur l'impact des crises financie`res passe´es. Nous utilisons la me´thode d'estimation des effets ale´atoires sur donne´es de panel concernant un ensemble de pays sur la pe´riode entre 1980 et 2005. Nous inte´grons dans le mode`le de re´gression de nombreuses variables de controˆle, et obtenons e´galement des re´sultats concernant la se´ve´rite´de l'impact des crises financie`res sur les e´conomies, aux diffe´rents niveaux de de´veloppement, et sur la persistance de leurs effets sur le choˆmage fe´minin. Pour tester la robustesse des re´sultats et analyser leur sensibilite´nous utilisons d'autres de´finitions possibles du terme 'crise'. Bien que nous ayons conscience des particularite´s de la dernie`re crise, et notamment de sa nature globale, nous estimons que nos re´sultats relatifs aux crises financie`res passe´es, associe´s a`des e´le´ments cle´s concernant la crise re´cente, peuvent aider a`e´laborer des mesures politiques approprie´es.

PurposeThe purpose of this paper is to assess the impact of financial crises on the youth unemployment rate (YUR). The authors consider different types of financial crises (systemic banking crises, non‐systemic banking crises, currency crises and debt crises) and different groups of countries, according to their income level.Design/methodology/approachAfter a review of the existing (theoretical and empirical) literature on the determinants of the YUR in general and at the occurrence of economic crises, the authors present empirical estimations on the impact of past financial crises on young workers. The relationship between financial crises and YUR is investigated by employing fixed effects panel estimation on a large panel of countries (about 70) around the world for the period 1980‐2005. The “persistence” over time of the impact is also investigated. Finally the Arellano‐Bond dynamic panel is estimated, confirming the significance of the results.FindingsAccording to the authors’ empirical estimates, two key results are relevant: financial crises have an impact on the YUR that goes beyond the impact resulting from GDP changes; and the effect on the YUR is greater than the effect on overall unemployment. The inclusion of many control variables – including in particular GDP growth – does not change the sign and significance of the key explanatory variable. The results suggest that financial crises affect the YUR for five years after the onset of the crises; however, the most adverse effects are found in the second and third year after the financial crisis.Research limitations/implicationsAlthough fully aware of the peculiarities of the last crisis, the authors believe that the econometric results facilitate a better understanding of the impact of the 2007‐2008 financial crisis on the youth labour market.Practical implicationsThe main policy implication is that effective active labour market policies and better school‐to‐work transition institutions are particularly needed to reduce the risk of persistence and structural (long‐term) unemployment, since young people have been worst affected by the last crisis.Originality/valueThere are many studies on the characteristics and causes of youth unemployment; considerable research has also been carried out into the labour market impact of financial crises. This paper brings the two strands of literature together, by econometrically investigating the impact of financial crises on YUR.

Purpose The purpose of this paper is to present a theoretical model, which is aggregated across individuals to analyse the labour force participation rate, and empirical results to provide evidence of a U-shaped relationship between women’s labour force participation and economic development. Design/methodology/approach The U-shaped relationship is investigated by employing a panel data approach of 40 countries around the world over the period 1960–2005. It is investigated whether the labour force behaviour of women in different age groups can be lumped together by considering ten different age groups. Findings The paper finds evidence in favour of the U-shaped relationship. For every age group and explanatory variable in the model, a particular point is found where the regime of falling participation rates changes into a regime of rising participation rates. Research limitations/implications To evaluate this relationship, microeconomic analysis with primary data can also provide significant insights. Social implications Every country can narrow the gap between the labour participation rates of men and women in the long term. Fertility decline, shifts of employment to services, part-time work, increased opportunities in education, and the capital-to-labour ratio as a measure for economic development are the key determinants. Originality/value In addition to the U-shaped relationship, considerable research has been carried out on demographic transition. This paper brings these two strands of literature together, by econometrically investigating the impact of demographic transition on female labour force participation given its U-shaped relation with economic development, i.e., turning points for different explanatory variables are calculated and their implications for economic growth are discussed.

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