Crises and Joint Employment-Productivity Dynamics: A Comparative Perspective for European Countries

Enrico Marelli, Marcello Signorelli and Joanna Tyrowicz

No 2010-14, Working Papers from Faculty of Economic Sciences, University of Warsaw

Abstract: The aim of the paper is to investigate the short-term joint dynamics of productivity and employment during the economic down cycles in the EU economies over the past 20 years. Disentangling the shift in labour demand into a change of employment-productivity schedule and a movement along it, we focus on the last 2-3 crises, highlighting the peculiarities of the last recession. Namely, we demonstrate that many of the EU countries – unlike the United States –do not follow the RBC pattern. We also suggest some possible institutional fundamentals that could explain this phenomenon.

Keywords: recession; employment and productivity dynamics; RBC; labour hoarding (search for similar items in EconPapers)
JEL-codes: E32 J21 J23 O47 O52 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2010
New Economics Papers: this item is included in nep-eec, nep-eff, nep-eur and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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http://www.wne.uw.edu.pl/inf/wyd/WP/WNE_WP37.pdf First version, 2010 (application/pdf)

Related works:
Journal Article: Crises and Joint Employment–Productivity Dynamics: A Comparative Perspective for European Countries (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:war:wpaper:2010-14

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