Table 1 VAR model coefficients Variable... | Emerald Publishing

Table 1

VAR model coefficients

Variable	Equation participation rate (25–54) (the first difference of the labour force participation rate among individuals aged 25–54)	Equation labour force share (55–64) (the first difference of the share of the labour force aged 55–64)	Equation labour productivity (the first difference of the log-transformed labour productivity, expressed as GDP per employed person)	Equation employment rate (15–24) (the first difference of the employment rate among individuals aged 15–24)
Participation Rate (25–54) lag 1	−0.200	−0.022	0.332	−0.222
Labour Force Share (55–64) lag 1	−0.001	−0.113	0.308	0.005
Labour Productivity lag 1	−0.008	−0.000	0.046	0.195
Employment Rate (15–24) lag 1	−0.058	0.063*	0.048	−0.270*
Participation Rate (25–54) lag 2	−0.377***	0.071	0.433	−0.569*
Labour Force Share (55–64) lag 2	−0.042	−0.034	0.073	0.126
Labour Productivity lag 2	−0.046	0.016	−0.002	0.178
Employment Rate (15–24) lag 2	−0.034	0.028	−0.055	−0.288*
Participation Rate (25–54) lag 3	0.116	0.057	0.502*	−0.503
Labour Force Share (55–64) lag 3	−0.427*	0.177	0.035	0.499
Labour Productivity lag 3	0.034	0.022	0.009	0.045
Employment Rate (15–24) lag 3	−0.024	0.051*	−0.043	0.049
Constant value	0.219*	0.067	0.419*	0.117
Participation Rate (25–54) AO 2003 Q1	2.393***	0.894**	−2.190	0.463
Level shift before crisis	−0.342*	−0.090	1.429***	−1.005*
Financial crisis 2009 Q1	0.047	0.185	−10.904***	−1.971
COVID AO 2019 Q1	−0.711	−0.165	−5.093***	−3.936*
COVID AO 2019 Q2	−1.578*	0.661	6.432***	−1.399

Variable	Equation participation rate (25–54) (the first difference of the labour force participation rate among individuals aged 25–54)	Equation labour force share (55–64) (the first difference of the share of the labour force aged 55–64)	Equation labour productivity (the first difference of the log-transformed labour productivity, expressed as GDP per employed person)	Equation employment rate (15–24) (the first difference of the employment rate among individuals aged 15–24)
Participation Rate (25–54) lag 1	−0.200	−0.022	0.332	−0.222
Labour Force Share (55–64) lag 1	−0.001	−0.113	0.308	0.005
Labour Productivity lag 1	−0.008	−0.000	0.046	0.195
Employment Rate (15–24) lag 1	−0.058	0.063*	0.048	−0.270*
Participation Rate (25–54) lag 2	−0.377***	0.071	0.433	−0.569*
Labour Force Share (55–64) lag 2	−0.042	−0.034	0.073	0.126
Labour Productivity lag 2	−0.046	0.016	−0.002	0.178
Employment Rate (15–24) lag 2	−0.034	0.028	−0.055	−0.288*
Participation Rate (25–54) lag 3	0.116	0.057	0.502*	−0.503
Labour Force Share (55–64) lag 3	−0.427*	0.177	0.035	0.499
Labour Productivity lag 3	0.034	0.022	0.009	0.045
Employment Rate (15–24) lag 3	−0.024	0.051*	−0.043	0.049
Constant value	0.219*	0.067	0.419*	0.117
Participation Rate (25–54) AO 2003 Q1	2.393***	0.894**	−2.190	0.463
Level shift before crisis	−0.342*	−0.090	1.429***	−1.005*
Financial crisis 2009 Q1	0.047	0.185	−10.904***	−1.971
COVID AO 2019 Q1	−0.711	−0.165	−5.093***	−3.936*
COVID AO 2019 Q2	−1.578*	0.661	6.432***	−1.399

Note(s): p < 0.001 → ***; p < 0.01 → **; p < 0.05 → *; p ≥ 0.05 → (no star)

Source(s): Authors’ own work