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Euro area labour markets and the crisis

Author

Listed:
  • J. De Mulder

    (National Bank of Belgium, Research Department)

  • Druant, M.

    (National Bank of Belgium, Research Department)

Abstract

The article summarises the main findings of the Eurosystem’s 2012 Structural Issues Report (SIR) and highlights some specific aspects for Belgium. It describes the main developments on euro area labour markets since the start of the Great Recession and its impact on mismatches and long-term unemployment. The ensuing policy conclusions refer to detrimental factors like wage rigidities, hysteresis and labour market segmentation and aim at increasing labour market flexibility so as to facilitate the ECB’s price-stability-oriented monetary policy.

Suggested Citation

  • J. De Mulder & Druant, M., 2012. "Euro area labour markets and the crisis," Economic Review, National Bank of Belgium, issue ii, pages 45-54, September.
    • Handle: RePEc:nbb:ecrart:y:2012:m:september:i:ii:p:45-54
    as

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    File URL: https://www.nbb.be/en/articles/euro-area-labour-markets-and-crisis-1
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    References listed on IDEAS

    as
    1. H. Zimmer, 2012. "Labour market mismatches," Economic Review, National Bank of Belgium, issue ii, pages 55-68, September.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Duarte, Cláudia & Maria, José R. & Sazedj, Sharmin, 2020. "Trends and cycles under changing economic conditions," Economic Modelling, Elsevier, vol. 92(C), pages 126-146.

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    More about this item

    Keywords

    Great Recession; labour market; wages; mismatches; labour flows; long-term unemployment;
    All these keywords.

    JEL classification:

    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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