A common economic crisis but contradictory responses: the European experience 2008-09
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Organización Internacional del Trabajo (OIT)
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| Format: | Entrada de enciclopedia |
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International Labour Organization
2009
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| _version_ | 1874525034556424192 |
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| author | Robert Kyloh Catherine Saget |
| author_facet | Robert Kyloh Catherine Saget Robert Kyloh Catherine Saget |
| contents | A common economic crisis but contradictory responses: the European experience 2008-09 Robert Kyloh Catherine Saget 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. Working paper (International Labour Organization. Policy Integration Department), no. 93, ILO publication.encyclopediaEntry |
| format | Entrada de enciclopedia |
| id | ilo_995326516402676 |
| institution | Organización Internacional del Trabajo (OIT) |
| publishDate | 2009 |
| publisher | International Labour Organization |
| spellingShingle | A common economic crisis but contradictory responses: the European experience 2008-09 Robert Kyloh Catherine Saget A common economic crisis but contradictory responses: the European experience 2008-09 Robert Kyloh Catherine Saget 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. Working paper (International Labour Organization. Policy Integration Department), no. 93, ILO publication.encyclopediaEntry |
| title | A common economic crisis but contradictory responses: the European experience 2008-09 |
| url | https://researchrepository.ilo.org/esploro/outputs/encyclopediaEntry/A-common-economic-crisis-but-contradictory/995326516402676 |