Jobless recoveries and the disappearance of routine occupations

Henry Siu, Nir Jaimovich 06 November 2012

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Economic recoveries aren’t what they used to be. Since the end of the Great Recession in June 2009:

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Topics:  Global crisis Labour markets Poverty and income inequality

Tags:  unemployment, Great Depression, jobs, Great Recession, labour

Temporary employment: The trade-off between efficiency and equity

Elke Jahn, Regina T. Riphahn, Claus Schnabel 10 October 2012

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Over the last three decades, the use of flexible forms of employment such as fixed-term and temporary agency work contracts has increased substantially throughout much of Europe. This development has been driven by government efforts to ease restrictions on temporary employment, whereas the regulation of permanent contracts has been left essentially unaltered. The reforms of temporary employment have intended to increase overall employment by lowering dismissal and adjustment costs for flexible jobs and thereby providing firms with new opportunities.

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Topics:  Labour markets

Tags:  unemployment, temporary contracts, equity, efficiency

The case for temporary inflation in the Eurozone

Stephanie Schmitt-Grohe, Martín Uribe,

Date Published

Sun, 09/16/2012

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www.cepr.org/pubs/dps/DP9133.asp

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unemployment, wages, Great Recession, Eurozone crisis

Games on Networks

Matthew O. Jackson, Yves Zenou,

Date Published

Sun, 09/09/2012

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Frontiers of economic research Industrial organisation

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www.cepr.org/pubs/dps/DP9127.asp

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The German labour market: Low worker flows and large volatilities

Hermann Gartner, Christian Merkl, Thomas Rothe 08 August 2012

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Business cycle fluctuations are associated with large ups and downs of the labour market (see Shimer 2005 for the US). The increased probability of losing a job and the reduced probability of finding a job in a recession may be considered as one of the major costs of an economic downturn. Nevertheless, there is only very limited knowledge of cross-country differences of labour market dynamics over the business cycle. Most economists probably expect that – due to rigidities on the German labour market – the business cycle volatility of the labour market is smaller in Germany than in the US.

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Topics:  Europe's nations and regions Labour markets

Tags:  Germany, unemployment, jobs

How local are labour markets? A look at the London Olympics

Alan Manning, Barbara Petrongolo 03 August 2012

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How local are labour markets? A number of important questions in labour economics hinge on the answer.

In recent years there has been a resurgence of interest in the consequences of localisation of economic activity for workers' welfare (see Moretti 2011, for a recent overview) and in policies aimed to improve labour market outcomes in disadvantaged areas (Glaeser and Gottlieb 2008).

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Topics:  Labour markets

Tags:  unemployment, Olympics, jobs, local labour markets

US unemployment: Neither natural nor unnatural

Guillermo Calvo, Fabrizio Coricelli, Pablo Ottonello 24 July 2012

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The Great Recession in the US has been followed by high and persistent unemployment. Although output recovered its pre-crisis level, the unemployment rate is still above its pre-crisis level, a situation that is popularly called ‘jobless recovery’ (see Figure 1).

Figure 1. US jobless recovery

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Topics:  Global crisis Global economy Labour markets

Tags:  US, unemployment, jobless recovery, Great Recession

Going separate ways? Differences in school-to-work pathways between Europe and the US

Glenda Quintini 15 May 2012

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The recent global economic crisis has brought renewed attention to the difficulties faced by youth in the labour market, including high unemployment rates, the risk of long-lasting scars from poor employment outcomes right after leaving education and the resulting risk of social and economic exclusion (Annunziata 2012). Between December 2007 and March 2012, youth in both the US and Europe have suffered from sizeable increases in unemployment rates – 5 and 7.5 percentage points, respectively – compromising the school-to-work transition of recent school graduates.

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Topics:  Education Labour markets

Tags:  unemployment, youth unemployment, optimal matching

Identity and wellbeing: How retiring makes the unemployed happier

Clemens Hetschko, Andreas Knabe, Ronnie Schöb 04 May 2012

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Most people adapt surprisingly well to changes in their lives. Even after tragic events such as the death of a family member or a chronic disease, they restore their former wellbeing, if not always completely (Clark et al 2008). There is one event, though, for which this appears not to be true – unemployment. Compared with other negative experiences, the life satisfaction of the unemployed does not restore itself even after having been unemployed for a long time.

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Topics:  Frontiers of economic research Labour markets

Tags:  unemployment, wellbeing, Retirement, identity

Fiscal consolidation in reformed vs. unreformed labour markets

Alessandro Turrini 25 April 2012

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Most EU countries have embarked on a path of fiscal austerity to ensure orderly debt developments at a juncture where unemployment is high and private-sector demand still weak. To what extent such consolidation programmes could compromise the recovery is object of current debate (see, notably, the debate launched by Giancarlo Corsetti 2012 on this website), although there is a certain consensus that for some countries the room of manoeuvre on the fiscal side is quite limited, in light of possible tensions on bond markets.

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Topics:  Labour markets Macroeconomic policy

Tags:  unemployment, fiscal policy, employment protection

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