Comparing Labor Market Performance: Some Stylized Facts and Key Findings

Brada, Josef C.; Signorelli, Marcello

doi:10.1057/ces.2012.20

Cited by 22 publications

(13 citation statements)

References 41 publications

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“…The impact of the economic crisis in Europe has shown a remarkable, although differential, effect on labour markets (Brada & Signorelli, 2012;Eichhorst et al, 2010;Lallement, 2011;Marelli et al, 2012;Vaughan-Whitehead, 2011). Although the crisis impact has hardly left its mark on the labour market in some countries, the deterioration process has been intense and long lasting in others, causing several territorial differences.…”

Section: Theoretical Framework the Crisis Impact On Labour Markets Anmentioning

confidence: 99%

“…The impacts of this crisis have been felt through the fall in GDP of European economics and also by the deterioration of the main labour market indicators (Brada and Signorelli, 2012;Eichhorst, Escudero, Marx & Tobin, 2010;Lallement, 2011;Marelli, Signorelli & Tyrowicz, 2012;Vaughan-Whitehead, 2011). However, not all the European countries have been hit with the same severity and intensity.…”

Section: Introductionmentioning

confidence: 99%

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Labour Resilience and Vulnerable Groups in Times of Crisis: A Comparative Study in Eleven European Countries

Molina¹,

Cotanda²,

Ferrer³

2016

Eur. j. econ. bus. stud.

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The financial crisis which hit the world economies in 2008 has had a negative effect across the spectrum of European economies. These impacts have been felt through the fall in economic activity and also by the deterioration of the labour market indicators. However, not all European markets have been hit with the same severity and intensity, causing territorial differences. But, beyond this, the crisis has had a clear impact on the labour force by exacerbating work inequality. Consequently, the concept of labour emerges through the adaptation of labour markets and the different results obtained amongst the collectives who make up the labour force. The present research has the dual goal of both describing and comparing the labour shock caused by the economic crisis in eleven European countries, establishing differences in employment outcomes of youth (15-24yrs of age), older (55-64yrs of age) and migrants workers by comparing key labour market indicators obtained from official statistical sources. Moreover, it reveals a documented analysis of various national reports describing the employment position of these groups. The results show similarities in the labour vulnerability patterns among countries in each of the groups studied. The analysis highlights the existence of certain factors linked to labour resilience of each group including economic, social, occupational, demographic and political factors. The results of this research are under the INSPIRES project, which has been funded by the Seventh Framework Programme of the European Commission.

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Section: Theoretical Framework the Crisis Impact On Labour Markets Anmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Labour Resilience and Vulnerable Groups in Times of Crisis: A Comparative Study in Eleven European Countries

Molina¹,

Cotanda²,

Ferrer³

2016

Eur. j. econ. bus. stud.

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“…A growing number of studies have tried to estimate the effects of the last financial crisis and the so-called "Great Recession" on total and youth unemployment (for example, Brada and Signorelli, 2012;Furceri and Mourougane, 2009;World Bank, 2010;ILO, 2010 andO"Higgins, 2012;Marelli et al, 2012, Boeri et al, 2013 Following the recent review by Boeri et al (2013), the literature envisages a number of links between financial and labour markets: the risk adjustment effect (Hart, 1983;Greenwald and Stiglitz, 1987); the quasi-fixed investment effect of labour demand (Oi, 1962;Farmer, 1985); the stickiness of the bank-borrower relationship in the presence of asymmetric 5 Blanchard and Summers (1987) showed that, while a permanent effect of shocks is unlikely, institutions can lead to high persistence. 6 For the performance of the "flexicurity system" in times of crisis, see Auer (2010) A c c e p t e d M a n u s c r i p t 5 information (Holmstrom and Tirole, 1997;Wasmer and Weil, 2004); the relationship between firm leverage and labour market flexibility (Monacelli et al, 2011, among many others) and, finally, the link between financial frictions and search-based unemployment in the event of a financial shock.…”

Section: Past and Most Recent Financial Crisesmentioning

confidence: 99%

The joint impact of labour policies and the “Great Recession” on unemployment in Europe

2015

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The paper consists of an empirical analysis of the separate as well as joint impacts on total and youth unemployment of indicators of labour market policies on the one hand, and the financial crisis associated with the "Great Recession" on the other. In particular, we investigate labour market data in the past two decades for the Enlarged Europe and adopt a variable accounting for the idiosyncratic severity shock of the crisis. This time-varying and country-specific crisis variable enables us to test empirically and in a novel way the joint impact of labour market policies and the economic crisis on labour market dynamics even when accounting for common macro shocks.

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“…There is a general consensus that interactions between macro‐economic shocks (such as shifts in productivity growth, caused by global recessions) and structural policy settings play a key role in determining labour market outcomes (OECD ). Moreover, in the long‐run perspective, the ability of a certain region to have more and better jobs largely depends on the intensity and characteristics of economic growth and on the patterns of structural change, interacting with changes in the global division of labour (Brada and Signorelli ). In this respect, sectoral productivity dynamics (Kruger ) together with demographic and migration trends (Bauer and Zimmermann ; Galgóczi et al .…”

Section: Similarities and Differences In Labour Market Resilience: Thmentioning

confidence: 99%

Smart Policies or Sheer Luck? Labour Market Resilience in the Low Countries

et al. 2014

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This article explores the labour market resilience of Belgium and the Netherlands. We define labour market resilience as the capacity of labour markets to resist, withstand or quickly recover from negative exogenous shocks and disturbances and to renew, adjust or re‐orientate in order to benefit from positive shocks. This article focuses on the labour market consequences of the crisis in these two countries and discusses their policy responses. Belgium and the Netherlands are often considered as comparable countries because of their open economies, their institutional characteristics and the fact that they usually are grouped together in the same welfare regimes. This article clearly shows that there are considerable differences between the countries. Although both countries have managed to limit the labour market consequences of the crisis, they have done so through the application of different interventions and reforms. From the comparison of these two countries we distillate more general conclusions about the factors that promote or limit labour market resilience.

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Comparing Labor Market Performance: Some Stylized Facts and Key Findings

Cited by 22 publications

References 41 publications

Labour Resilience and Vulnerable Groups in Times of Crisis: A Comparative Study in Eleven European Countries

Labour Resilience and Vulnerable Groups in Times of Crisis: A Comparative Study in Eleven European Countries

The joint impact of labour policies and the “Great Recession” on unemployment in Europe

Smart Policies or Sheer Luck? Labour Market Resilience in the Low Countries

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