Just a few years ago, Germany was known as the sick man of Europe (Burda 2007). Starting from an average unemployment rate below 4% in the 1970s, Germany saw its rate increase to almost 9% in the period 1995-2005. As seen in Figure 1 the unemployment rate has a strong cyclical component but also a trend component that has been rising since the 1970s until the mid-2000s.
German labour reforms: Unpopular success
Tom Krebs, Martin Scheffel, 20 September 2013
Political constraints in the aftermath of financial crises
Francesco Trebbi, Atif Mian, Amir Sufi, 21 February 2012
Financial crises of all colours (banking, currency, inflation, or debt crises) leave deep marks on an economy. Deep economic contractions, both in output and employment, are systematic in the interim and in the aftermath of financial crises, as thoroughly documented in research by Reinhart and Rogoff (2009) and Reinhart and Reinhart (2010).
Stabilisation and growth under dictatorships: Lessons from Franco’s Spain
Leandro Prados de la Escosura, Joan R. Rosés, Isabel Sanz Villarroya, 22 March 2010
Since the early 1980s, many developing countries have undergone major economic policy reforms following the so-called “Washington Consensus” – including measures to liberalise trade and capital flows, reduce inflation and fiscal imbalances, cut down inefficient government activity, and to protect property rights.
Can governments implement structural reforms and yet be re-elected?
Marco Buti, Alessandro Turrini, Paul van den Noord, 17 June 2008
Jean-Claude Juncker, Prime Minister of Luxembourg, President of the Eurogroup, and one of Europe’s leading policy makers, once famously complained that "We all know what to do, but we don’t know how to get re-elected once we have done it" (The Economist, 2007).
Antidumping in the EU: the time of missed opportunities
Hylke Vandenbussche, Maurizio Zanardi, 8 February 2008
Sixty years of GATT rounds have resulted in low levels of tariff protection, especially for developed countries. Constrained by these commitments, many countries have switched to other instruments to wield protection. Among these, antidumping duties are some of the most important.
How to reform the job market successfully
Olivier Blanchard, 20 September 2007
Why must the French job market undergo major reform?
Can Germany be saved? The malaise of the world’s first welfare state
Hans-Werner Sinn, 19 June 2007
Despite the current cyclical upswing in Germany, which is largely fuelled by the strongest boom of the world economy in a third of a century, careful observers are well aware of the underlying, and long-enduring, structural problems of this country. Europe’s largest and the world’s third-biggest economy, the world’s first welfare state, is in serious difficulties.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Adelman, 28 October 2013
Reichlin, Giugliano, 7 November 2013
Holmes, McGrattan, Prescott
Beck, De Haas, Ongena
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche
- What’s wrong with Europe?Baldini, Manasse
- How the EZ crisis is permanently changing EU institutionsMicossi
- WTO 2.0: Global governance of supply-chain tradeBaldwin
- Is US economic growth over? Faltering innovation confronts the six headwindsGordon
- The economic crisis: How to stimulate economies without increasing public debtWood