Cross-Cutting Themes in Employment Experiences during the Crisis

Business & Finance, Economics, Money & Monetary Policy, Macroeconomics
Cover of the book Cross-Cutting Themes in Employment Experiences during the Crisis by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon, INTERNATIONAL MONETARY FUND
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon ISBN: 9781455239115
Publisher: INTERNATIONAL MONETARY FUND Publication: November 11, 2010
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
ISBN: 9781455239115
Publisher: INTERNATIONAL MONETARY FUND
Publication: November 11, 2010
Imprint: INTERNATIONAL MONETARY FUND
Language: English

The human cost of the recent global crisis is reflected in its impact on the labor market. Explaining why economies with similar downturns had very different employment trends can help design policies to reduce such costs and improve labor markets. This paper analyzes the recent employment experiences of six economies: Germany, Korea, Mexico, New Zealand, Spain, and Sweden. These economies represent a wide range of labor market institutions, policy responses, and outcomes to the crisis. The divergence of labor market outcomes and of the effectiveness of policies during the crisis can be explained by the interaction between the nature of the shocks and differences in the structure and institutions of each country’s economy. The worst job losses compared to the drop in output followed permanent shocks, particularly in dual labor markets and in the presence of wage rigidities. Policies to avoid job cuts were much more effective when they were well-targeted and responded to temporary shocks. In contrast, policies to facilitate labor movements were more appropriate following permanent shocks.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The human cost of the recent global crisis is reflected in its impact on the labor market. Explaining why economies with similar downturns had very different employment trends can help design policies to reduce such costs and improve labor markets. This paper analyzes the recent employment experiences of six economies: Germany, Korea, Mexico, New Zealand, Spain, and Sweden. These economies represent a wide range of labor market institutions, policy responses, and outcomes to the crisis. The divergence of labor market outcomes and of the effectiveness of policies during the crisis can be explained by the interaction between the nature of the shocks and differences in the structure and institutions of each country’s economy. The worst job losses compared to the drop in output followed permanent shocks, particularly in dual labor markets and in the presence of wage rigidities. Policies to avoid job cuts were much more effective when they were well-targeted and responded to temporary shocks. In contrast, policies to facilitate labor movements were more appropriate following permanent shocks.

More books from INTERNATIONAL MONETARY FUND

Cover of the book Effects of Slowdown in Industrial Countries on Growth in Non-Oil Developing Countries by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book World Economic Outlook, May 1998: Financial Crises: Causes and Indicators by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Finance & Development, December 2004 by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Fiscal Monitor, October 2016 by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Cambodia: Entering a New Phase of Growth by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Bank Soundness and Macroeconomic Policy by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Finance & Development, March 1975 by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Floating Exchange Rates in Developing Countries: Experience with Auction and Interbank Markets by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Social Issues in IMF-Supported Programs by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Aging and Social Expenditure in the Major Industrial Countries, 1980-2025 by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Public Sector Debt Statistics: Guide for Compilers and Users by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Chile: Institutions and Policies Underpinning Stability and Growth by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Building Strong Banks Through Surveillance and Resolution by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Financial Assistance from Arab Countries and Arab Regional Institutions by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
Cover of the book Central America: Challenges Following the 2008-09 Global Crisis by Athanasios Mr. Vamvakidis, Francis Vitek, Mwanza Mrs. Nkusu, Reginald Mr. Darius, Alun Mr. Thomas, Edouard Vidon
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy