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

  • Enrico Marelli

    ()

    (Department of Economics, University of Brescia, via San Faustino 74/B, 25122 Brescia, Italy.)

  • Marcello Signorelli

    ()

    (Department of Economics, Finance and Statistics, University of Perugia, via A. Pascoli, 20, 06123 Perugia, Italy.)

  • Joanna Tyrowicz

    ()

    (1] Faculty of Economics, University of Warsaw, ul. Dluga 44/50, 00-241 Warszawa, Poland[2] National Bank of Poland, ul. Swietokrzyska 11/21, 00-919 Warszawa, Poland[3] Rimini Centre for Economic Analysis, Rimini, Italy.)

This paper investigates the short-term joint dynamics of productivity and employment during economic down cycles in EU economies over the past 20 years. We disentangle changes in output into changes in employment and in productivity. We focus on the last two decades, highlighting the peculiarities of the latest recession. In particular, we show that there have been four major types of adjustments caused by the fall in output in Europe. We also suggest some possible fundamental institutional aspects that could explain both this phenomenon and peculiarities of this last recession.

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Article provided by Palgrave Macmillan in its journal Comparative Economic Studies.

Volume (Year): 54 (2012)
Issue (Month): 2 (June)
Pages: 361-394

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Handle: RePEc:pal:compes:v:54:y:2012:i:2:p:361-394
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  1. Growiec, Jakub, 2009. "On the Measurement of Technological Progress Across Countries," MPRA Paper 19321, University Library of Munich, Germany.
  2. Mukand, Sharun & Rodrik, Dani, 2002. "In Search of the Holy Grail: Policy Convergence, Experimentation and Economic Performance," Working Paper Series rwp02-027, Harvard University, John F. Kennedy School of Government.
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