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Unemployment in the great recession

Pissarides, Christopher A. (2013) Unemployment in the great recession. Economica, 80 (319). pp. 385-403. ISSN 0013-0427

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Identification Number: 10.1111/ecca.12026


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.

Item Type: Article
Official URL:
Additional Information: © 2013 The London School of Economics and Political Science.
Divisions: Economics
Centre for Economic Performance
Subjects: H Social Sciences > HC Economic History and Conditions
Date Deposited: 17 Jul 2013 08:16
Last Modified: 20 Sep 2021 03:45

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