The decline of the middle class has come to the forefront of debate in the US and Europe in recent years. This decline has two important components in the labour market. First, the number of well-paid middle-skill jobs in manufacturing and clerical occupations has decreased substantially since the mid-1980s.
Job polarisation and the decline of middle-class workers’ wages
Michael Boehm, 8 February 2014
Why don’t African firms create more jobs?
Leonardo Iacovone, Vijaya Ramachandran, 7 February 2014
There is an urgent need for job creation in Africa. Many economies on the continent suffer high rates of under-employment and/or low-productivity employment. In addition, because of demographic factors, many countries anticipate that large numbers of youth will enter the workforce in the near future.
Social job-search networks and the transition from school to stable employment
Francis Kramarz, Oskar Nordström Skans, 17 October 2013
The challenges faced by young workers transitioning from school into stable employment are a major concern throughout the OECD. The search for stable employment is a time-consuming process, particularly in countries without highly developed apprenticeship systems. Many young workers – especially the least educated – are caught struggling for years.
Moving towards a single contract? Pros, cons and mixed feelings
Nicolas Lepage-Saucier, Juliette Schleich, Étienne Wasmer, 29 July 2013
Dualism – the division of the labour market between highly paid primary workers in stable jobs and secondary workers in low paying precarious positions – has remained at the forefront of public debates in Europe, where it is pervasive.
Short-time work: Does it save jobs?
Almut Balleer, Britta Gehrke, Wolfgang Lechthaler, Christian Merkl, 12 July 2013
Short-time work means that the government subsidises the reduction of the working time of an employee to prevent firing. Many countries allow a firm to use this instrument when the demand for its products is lower than its production potential. Since more firms face a shortfall of demand in recessions, there is a rule-based component of short-time work.
Policy-related uncertainty: At the root of the lost resilience of Eurozone labour markets?
Alfonso Arpaia, Alessandro Turrini, 2 March 2013
The Eurozone, in contrast to the US, exhibited remarkable labour market resilience in the aftermath of the Lehman shock that lead to the Great Recession. Conversely, as the debt crisis developed, labour markets in the Eurozone weakened and unemployment started growing above what was predicted on the basis of GDP growth (Figure 1).
The next productivity revolution: The ‘industrial internet’
Marco Annunziata, 7 December 2012
The largest advanced economies are struggling with weak growth prospects and daunting fiscal challenges. Looking at the macroeconomic equation, there is no easy way out. Looking at the microeconomic level, however, suggests that it is innovation that might come to the rescue.
Jobless recoveries and the disappearance of routine occupations
Henry Siu, Nir Jaimovich, 6 November 2012
Economic recoveries aren’t what they used to be. Since the end of the Great Recession in June 2009:
Youth unemployment in Europe: More complicated than it looks
Jacob Funk Kirkegaard, 13 October 2012
Hardly a day goes by without a reminder of youth unemployment rates in excess of 50% in Greece, Spain, Italy, and other parts of the European periphery. Sometimes the reminders are in the form of rants by economists or pundits about the moral deficiency of EZ demands for austerity and the risks of a lost generation of young people.
Confronting the jobs crisis under tight fiscal constraints
Benedict Clements, Ruud de Mooij, Gerd Schwartz, 9 September 2012
The economic and social consequences of job losses since the onset of the global crisis have been enormous, as Ben Bernanke recently pointed out (Bernanke 2012). Unemployment rates have soared to an average of 11% in the Eurozone in mid-2012, and youth unemployment has reached alarming levels in many places, exceeding 50% in Greece and Spain.
- 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
DellaVigna, Durante, Knight, La Ferrara
Ostry, Berg, Tsangarides
Allen, Eichengreen, Evans
Greenwood, Guner, Kocharakov, Santos
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
- Making city lights shine brighterYusuf, Leipziger
- The euro in the 'currency war'Bénassy-Quéré, Martin
- The roots of shadow bankingPerotti
- What’s wrong with Europe?Baldini, Manasse
- How the EZ crisis is permanently changing EU institutionsMicossi
- 21st Century Challenges: The Mobile Middle Class13 - 13 March 2014 / Royal Geographical Society, 1 Kensington Gore, SW7 London / Royal Geographical Society (with IBG)
- The 13th Annual GEP Postgraduate Conference 20141 - 2 May 2014 / Nottingham / Sponsored by Nottingham Centre for Research on Globalisation and Economic Policy (GEP) University of Nottingham, United Kingdom
- Exchange Rates and External Adjustment2 - 3 June 2014 / Zurich / Swiss National Bank
- 13th Summer School in International Development Economics: Investment, Saving and Wellbeing in Developing Countries10 - 13 June 2014 / Palazzo Feltrinelli, Gargnano, Lake Garda (Italy) / Organisers: Centro Studi Luca d’Agliano, Centre for Economic Policy Research (CEPR), Paolo Baffi Center on International Markets, Money and Regulation, Department of Economics, Management and Quantitative Methods of the University of Milan, Department of Economics, Quantitative Methods and Business Strategies of the University of Milan Bicocca, Vilfredo Pareto Doctoral Program in Economics of the University of Turin, The Lombardy Advanced School of Economic Research (LASER).
- 3rd WB-BE Research Conference: Financing growth: Levers, Boosters and Brakes23 - 24 June 2014 / Banco de España headquarters in Madrid / This conference is sponsored by Banco de España and The World Bank