Unemployment in the great recession

Pissarides, Christopher A. ORCID: 0000-0002-0695-058X (2013) Unemployment in the great recession. CEP Discussion Papers (CEPDP1210). London School of Economics and Political Science. Centre for Economic Performance, London, UK.

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Abstract

This paper studies the responses of unemployment in Germany, the United States and Britain to the Great Recession of 2008-09 by making use of Beveridge curve analysis, and in the entire OECD with other techniques. It is shown that Britain suffered from recession but no structural problems; the United States 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:	Monograph (Discussion Paper)
Official URL:	http://cep.lse.ac.uk/_new/publications/series.asp?...
Additional Information:	© 2013 The Author
Divisions:	Economics Centre for Economic Performance
Subjects:	H Social Sciences > HD Industries. Land use. Labor
JEL classification:	E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Employment, and Investment > E24 - Macroeconomics: Employment; Unemployment; Wages; Intergenerational Income Distribution (includes wage indexation) J - Labor and Demographic Economics > J6 - Mobility, Unemployment, and Vacancies
Date Deposited:	08 Aug 2013 09:39
Last Modified:	13 Sep 2024 20:24
URI:	http://eprints.lse.ac.uk/id/eprint/51546

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