Isebaert, Daan; Heylen, Freddy; Smolders, Carine - CESifo - 2011
market outcomes. This paper tests the Oswald hypothesis in a panel of 42 Belgian districts since the 1970s. The use of data … employment like labour costs and productivity, the skill level of the population, and demography. Considering that ownership may … be endogenous to (shocks in) employment, we use IV estimation methods. Overall, we find evidence in favour of the Oswald …