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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. Jakub Growiec, 2010. "On the measurement of technological progress across countries," National Bank of Poland Working Papers 73, National Bank of Poland, Economic Institute.
  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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  7. Alfonso Arpaia & Nicola Curci, 2010. "EU labour market behaviour during the Great Recession," European Economy - Economic Papers 405, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
  8. Zsolt Darvas & György Szapáry, 2006. "Business Cycle Synchronization in the Enlarged EU," Working Papers 0604, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest.
  9. Andrew K. Rose, 2000. "One money, one market: the effect of common currencies on trade," Economic Policy, CEPR;CES;MSH, vol. 15(30), pages 7-46, 04.
  10. Enrico Marelli & Marcello Signorelli, 2010. "Employment, productivity and models of growth in the EU," International Journal of Manpower, Emerald Group Publishing, vol. 31(7), pages 732-754, November.
  11. Bernard, Andrew B & Jones, Charles I, 1996. "Comparing Apples to Oranges: Productivity Convergence and Measurement across Industries and Countries," American Economic Review, American Economic Association, vol. 86(5), pages 1216-38, December.
  12. Belorgey, N. & Lecat, R. & Maury, P-M., 2004. "Determinants of Productivity per Employee: an Empirical Estimation Using Panel Data," Working papers 110, Banque de France.
  13. Marianne Baxter & Robert G. King, 1995. "Measuring Business Cycles Approximate Band-Pass Filters for Economic Time Series," NBER Working Papers 5022, National Bureau of Economic Research, Inc.
  14. Paul Beaudry & Fabrice Collard, 2002. "Why has the Employment-Productivity Tradeoff among Industrialized Countries been so strong?," NBER Working Papers 8754, National Bureau of Economic Research, Inc.
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