The roots of the German miracle

Hermann Gartner, Christian Merkl 09 March 2011

a

A

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. Möller 2010) have correctly pointed out that German firms were hoarding labour and thereby absorbing part of the output shock.

a

A

Topics:  Europe's nations and regions Labour markets

Tags:  Germany, unemployment, Labour-market reform

Deviations from the Taylor rule and the dual mandate

Nicolas Groshenny 02 February 2011

a

A

According to its official mandate, the Federal Reserve sets the federal funds rate to achieve a dual goal of price stability and maximum sustainable employment. Since the global crisis erupted, debate has been raging over the Federal Reserve's conduct of monetary policy over the period 2002-2006. For example, Taylor (2007) criticises the Federal Reserve for departing from its usual conduct of monetary policy after 2001 and suggests it kept the federal funds rate too low between 2002 and 2006 (see Figure 1).

a

A

Topics:  Global crisis Monetary policy

Tags:  inflation, unemployment, Taylor rules

Is short-time work a good method to keep unemployment down?

Pierre Cahuc, Stéphane Carcillo 01 February 2011

a

A

Short-time compensation (or short-time work) aims at reducing lay-offs by allowing employers to temporarily reduce hours worked while compensating workers for the induced loss of income. At present, short-time work schemes are widespread among OECD countries, having grown in popularity during the Great Recession. As shown by Figure 1, they are now used in 25 of the 33 OECD countries.1

Figure 1. Short-time work take-up rates in the OECD countries (as a percentage of employees) 

a

A

Topics:  Labour markets

Tags:  unemployment, OECD, Short-term work

Immigration, offshoring and US jobs

Gianmarco I.P. Ottaviano, Giovanni Peri, Greg C Wright 18 November 2010

a

A

Manufacturing production and employment in the US has been in decline over recent decades. This loss of jobs is often blamed on a combination of multinational firms relocating jobs abroad and immigrant workers increasing competition in the labour market. But measuring the impact of globalisation on jobs is more difficult than that, even if many choose not to believe it.

a

A

Topics:  International trade Migration

Tags:  US, unemployment, immigration, manufacturing, offshoring

Unemployment and happiness: A new take on an old problem

Andreas Knabe, Ronnie Schöb, Joachim Weimann 17 November 2010

a

A

Recently, economists and policymakers alike have been paying more and more attention to subjective wellbeing (Graham 2010). The UK government just announced plans to start recording the nation’s happiness for the first time through a “general wellbeing index” following suggestions by France and Canada.

a

A

Topics:  Frontiers of economic research

Tags:  unemployment, happiness, life satisfaction, utility

Animal Spirits, Persistent Unemployment and the Belief Function

Roger E. A. Farmer ,

Date Published

Mon, 11/08/2010

a

A

Show in Editors Choice Box?

0

Display Order

0

Topics

Labour markets Macroeconomic policy

Partners

Vox

URL

www.cepr.org/pubs/dps/DP8100.asp

Vox users can download CEPR Discussion Paper 8100 for free here. To learn more about subscribing to CEPR's Discussion Paper Series, please visit the CEPR website.

Journalists are entitled to free DP downloads on request; please contact pressoffice@cepr.org. To learn more about subscribing to CEPR's Discussion Paper Series, please visit the CEPR website.

Home Page

Display Order

-10

cepr_featured

1
Tags
inflation, unemployment, animal spirits

The role of openness and labour market institutions for employment dynamics during economic crises

Elisa Gamberoni, Erik von Uexkull, Sebastian Weber 29 September 2010

a

A

As a result of the global crisis and the related domestic and debt crises, global employment growth, according to the ILO’s Global Employment Trend (Jan 2010), slowed down to 0.7% in 2009 from 1.9% in 2007 and 1.4% in 2008. According to the ILO study, the slowdown occurred across all regions of the world except for the Middle East.

a

A

Topics:  Global crisis International trade Labour markets

Tags:  unemployment, global crisis, labour market flexibility

Trends in environmental concern as revealed by Google searches: The chilling effect of recession

Matthew E. Kahn, Matthew J. Kotchen 21 August 2010

a

A

Google Insights is a publically available online tool for tracking aggregate Google search activity over time for specific geographic areas. Recent research shows that Google search terms are a powerful tool to predict public health epidemics (Pelat et al. 2009 and Valdiva and Monge-Carella 2010) and economic activity (Choi and Varian 2009, D’Amuri and Marcucci 2009, and Varian 2009).

a

A

Topics:  Environment Global crisis

Tags:  unemployment, climate change, global warming, Google

Welfare to work: Sticks rather than carrots

Jan van Ours, Bas van der Klaauw 19 August 2010

a

A

Given difficult circumstances, governments are considering various policy instruments to increase the “reemployment” rate of unemployed workers. This is no easy task – traditional active labour market policies are often not very successful.

a

A

Topics:  Global crisis Labour markets Welfare state and social Europe

Tags:  unemployment, welfare state, global crisis, Eurozone crisis

Challenges in the coming phase of globalisation: A sense of déjà vu

Otaviano Canuto, José Manuel Salazar 28 June 2010

a

A

The global crisis has hit workers hard. The ILO (2010) estimates that unemployment increased by more than 30 million in 2009 to 212 million jobless. While openness can contribute to growth and helps to buffer domestic shocks, it also increases exposure to external shocks.

a

A

Topics:  Global crisis

Tags:  unemployment, globalisation, global crisis

Pages

Events