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

Market psychology, high unemployment and rational bubbles

Roger E. A. Farmer , 18 August 2011

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According to a popular narrative (e.g. Shiller 2008), the Great Recession was caused by a bubble in the housing market. When the bubble burst, households were left with mortgages that exceeded the values of their houses. When they stopped spending, the resulting fall in consumer demand triggered an increase in unemployment.

Topics: Frontiers of economic research
Tags: bubbles, psychology, rational expectations, unemployment

The allocation of time over the business cycle

Erik Hurst, Loukas Karabarbounis, Mark Aguiar, 17 August 2011

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After years of steady growth, the global economy has turned and so too has the interest in unemployment (see recent examples on this site Smith 2011 and Cingano and Rosolia 2011). The rising levels of unemployment around the world bring up some key questions:

Topics: Labour markets
Tags: jobs, recession, time management, unemployment, US

The ins and outs of UK unemployment

Jennifer Smith, 18 July 2011

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The labour market is in a continual state of flux. Workers are hired, fired, joining the labour force and leaving the labour force. The balance of these flows determines the unemployment rate.

Topics: Labour markets
Tags: employment protection, job search, UK, unemployment

Where are the jobs? Out there, somewhere. Perhaps.

Alfonso Rosolia, Federico Cingano, 17 July 2011

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The global crisis hit jobs hard. According to the OECD, between 2007 and 2010 the number of employed people fell by almost 5 million throughout OECD countries and the number of job seekers rose by over 16 million.

Topics: Labour markets
Tags: jobs, networks, unemployment

Egypt’s demographic pressure – Where and how to create jobs?

Marga Peeters, 2 June 2011

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Demographic developments place Egypt among the group of countries around the globe with the highest labour-supply growth for many years to come. The Egyptian economy can reap a demographic dividend from this human capital potential if the new entrants find a job (see also Noland and Pack 2008).

Topics: Development, Labour markets, Politics and economics
Tags: Arab uprising, Egypt, unemployment

Coping with crises: Policies to protect employment and earnings

Pierella Paci, Ana Revenga, Bob Rijkers, 19 April 2011

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“There cannot be a crisis next week. My schedule is already full.” – Henry A Kissinger

Topics: Global crisis, Labour markets, Macroeconomic policy
Tags: financial crises, unemployment

The roots of the German miracle

Hermann Gartner, Christian Merkl, 9 March 2011

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While the US labour market has seen a dramatic loss in jobs in the Great Recession, the German labour market has seemed to be unaffected – the number of employed workers has remained stable. This is all the more surprising as German GDP dropped more than in the US in 2009 (-4.7% vs. -2.7%). Some economists (e.g.

Topics: Europe's nations and regions, Labour markets
Tags: Germany, Labour-market reform, unemployment

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