 A common economic crisis but contradictory responses: the European experience 2008-09Robert. Kyloh and Catherine. Saget ILO Working Papers from International Labour Organization Abstract: In the aftermath of the 2007 US initiated financial crisis, labour market conditions have deteriorated between mid-2008 and mid-2009 across all European countries with massive employment losses recorded in both advanced economies and emerging economies. However, policy responses to mitigate the economic and social effects of the crisis have differed dramatically across European countries confronted by this common challenge. The present paper documents the employment effects of these policy responses and shows that the gap in employment performance between advanced economies and emerging countries of Europe could widen after years of slow convergence, with negative consequences for social cohesion. It argues that strengthening multilateral coordination is needed to avoid a reversal in social and economic progress. Keywords: economic recession; fiscal policy.; monetary policy; employment; social protection.; récession économique; politique fiscale; politique monétaire; emploi; protection sociale; recesión económica; política fiscal; política monetaria; empleo; protección social (search for similar items in EconPapers) Published in Working paper series, Policy Integration Department. Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ilo:ilowps:994335573402676 Access Statistics for this paper More papers in ILO Working Papers from International Labour Organization Contact information at EDIRC. |
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