Information on all of the papers published in the ECB Working Paper Series can be found on the ECB's website, http://www.ecb. europa.eu/pub/scientific/wps/date/html/index.en.html 2012 Structural Issues Report "Euro area labour markets and the crisis'' This paper contains research underlying the 2012 Structural Issues Report "Euro area labour markets and the crisis'', which was prepared by a Task Force of the Monetary Policy Committee of the European System of Central Banks. The Task Force was chaired by Robert Anderton (ECB). Mario Izquierdo (Banco de España) acted as Secretary. The Task Force consisted of experts from the ECB as well as the National Central Banks of the euro area countries. The main objectives of the Report was to shed light on developments in euro area labour markets during the crisis, including the notable heterogeneity across the euro area countries, as well as the mediumterm consequences of these developments, along with the policy implications.The refereeing process of this paper has been co-ordinated by the Chairman and Secretary of the Task Force.
AcknowledgementsThis paper was the result of background research for the Structural Issues Report 2012 "Euro area labour markets and the crisis". The opinions expressed herein are those of the authors, and do not necessarily reflect the views of the ECB, the Bank of Finland or the Eurosystem. We thank Bob Anderton, Mario Izquierdo Peinado, Mika Kuismanen, Jennifer Smith, Rob Valletta, the anonymous referee, participants of the ESCB Structural Issues Report 2012 Taskforce, the Finnish Economic Association XXXIV Annual Meeting and the 9th ECB/CEPR Labour Market Workshop "Labour market policies and the crisis", for very helpful comments and discussions. All errors are our responsibility.
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