Unemployment in the Great Recession
This paper studies the responses of unemployment in Germany, the USA and the UK to the Great Recession of 2008-9 using Beveridge curve analysis, and in the entire OECD using other techniques. It is shown that the UK suffered from recession but no structural problems; the USA suffered from structural unemployment during the recovery; Germany exhibited a much better performance both during and after the recession. The rise in OECD unemployment is broken down into parts due to aggregate activity, the construction sector and a residual attributed to policies and institutions, which is used to reach conclusions about policy.
1 July 2013
Economica 80(319) , pp.385-403, 2013
https://onlinelibrary.wiley.com/doi/full/10.1111/ecca.12026
This Journal article is published under the centre's Labour programme.
This publication comes under the following theme: Unemployment and job search