Unemployment in the Great Recession: A Comparison of Germany, Canada, and the United States

Florian Hoffmann and Thomas Lemieux

Journal of Labor Economics, 2016, vol. 34, issue S1, S95 - S139

Abstract: This paper looks at the surprisingly different labor market performance of the United States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-9. A first important finding is that the large employment swings in the construction sector linked to the boom and bust in US housing markets is an important factor behind the different labor market performances of the three countries. We also find that cross-country differences among OECD countries are consistent with a conventional Okun relationship linking gross domestic product growth to employment performance.

Date: 2016
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Related works:
Working Paper: Unemployment in the Great Recession: A Comparison of Germany, Canada and the United States (2014)
Chapter: Unemployment in the Great Recession: A Comparison of Germany, Canada, and the United States (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:ucp:jlabec:doi:10.1086/682424

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