The German labour market: Low worker flows and large volatilities

Hermann Gartner, Christian Merkl, Thomas Rothe, 8 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.

Topics: Europe's nations and regions, Labour markets
Tags: Germany, jobs, unemployment

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

Alan Manning, Barbara Petrongolo, 3 August 2012

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

Topics: Labour markets
Tags: jobs, local labour markets, Olympics, unemployment

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

Topics: Global crisis, Global economy, Labour markets
Tags: Great Recession, jobless recovery, unemployment, US

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).

Topics: Education, Labour markets
Tags: optimal matching, unemployment, youth unemployment

Identity and wellbeing: How retiring makes the unemployed happier

Clemens Hetschko, Andreas Knabe, Ronnie Schöb, 4 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.

Topics: Frontiers of economic research, Labour markets
Tags: identity, Retirement, unemployment, wellbeing

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.

Topics: Labour markets, Macroeconomic policy
Tags: employment protection, fiscal policy, unemployment

Unhappiness and job finding

Jan van Ours, Anne Gielen, 13 February 2012

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URL: http://www.cepr.org/DP8842
Topics: Europe's nations and regions, Labour markets
Tags: Active Labour market policy, Germany, happiness, unemployment

The Spanish labour market: A very costly insider-outsider divide

Samuel Bentolila, Juan Dolado, Juan Francisco Jimeno , 20 January 2012

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Despite having a public debt-to-GDP ratio that is lower not only than Italy’s but also than that of France, Germany, and the UK, and despite having a new government committed to fiscal consolidation, Spain is still in trouble. It faces difficulties obtaining credit in international financial markets.

Topics: Europe's nations and regions, Labour markets, Poverty and income inequality
Tags: Dual labour market, Eurozone crisis, Labour-market reform, Spain, unemployment

The German labour-market miracle

Michael Burda, Jennifer Hunt, 2 November 2011

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At a time when unemployment rates in France, Italy, the UK, and the US are stuck around 8%-9%, many are turning to the apparent miracle in the German labour market in search of lessons. In 2008–09, German GDP plummeted 6.6% from peak to trough, yet joblessness rose only 0.5 percentage points before resuming a downward trend, and employment fell only 0.5%.

Topics: Europe's nations and regions, Labour markets
Tags: Germany, protestors, unemployment

Firms’ deleveraging and the persistence of unemployment

Tommaso Monacelli, Vincenzo Quadrini, Antonella Trigari, 18 October 2011

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The recent financial turmoil has been associated with a depressed state of the labour market. The unemployment rate in the US has risen from 5.5% to more than 10% and continues to remain close to 9% three years after the beginning of the recession (see Figure 1).

Figure 1. Unemployment rate

Topics: Labour markets, Macroeconomic policy
Tags: Great Recession, unemployment, US

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