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Europe’s Recurrent Employment Problems

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  • Gros, Daniel

Abstract

As unemployment climbs to new heights, Europe’s policy-makers are desperately casting about for the few instruments with which the EU can claim to foster growth. After a thorough examination of the facts on the ground, however, this paper finds that the North and the South of the euro area are diverging so much that they need very different policy prescriptions. Moreover, it points out that the two instruments that the EU has at its disposal to address structural problems in the South (the EIB and the Structural Funds) are unlikely to be effective this time. Nevertheless, the paper concludes that the situation is not hopeless and that deep service-sector reforms in Germany would also be helpful to unlock the country’s productivity potential and open its market for the export of services from southern Europe. Opening the German market would yield a ‘double dividend’: not only would Germany benefit, but the South would also have the chance to find jobs for its rather well-educated youth, which right now face only the unhappy choice between unemployment and emigration.

Suggested Citation

  • Gros, Daniel, 2012. "Europe’s Recurrent Employment Problems," CEPS Papers 6972, Centre for European Policy Studies.
  • Handle: RePEc:eps:cepswp:6972
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    File URL: http://www.ceps.eu/system/files/book/2012/05/PB271%20DG%20Europe%20looking%20for%20Employment.pdf
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    References listed on IDEAS

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    1. Hans-Werner Sinn & Timo Wollmershäuser, 2012. "Target loans, current account balances and capital flows: the ECB’s rescue facility," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 19(4), pages 468-508, August.
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    8. repec:dau:papers:123456789/4184 is not listed on IDEAS
    9. repec:dau:papers:123456789/4186 is not listed on IDEAS
    10. Matthieu Bussière & Giovanni Callegari & Fabio Ghironi & Giulia Sestieri & Norihiko Yamano, 2013. "Estimating Trade Elasticities: Demand Composition and the Trade Collapse of 2008-2009," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(3), pages 118-151, July.
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    Cited by:

    1. Francesco Pasimeni & Paolo Pasimeni, 2016. "An Institutional Analysis of the Europe 2020 Strategy," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 127(3), pages 1021-1038, July.
    2. González María Jesús González & González Alejandro López, 2015. "Strategic planning and change management. Examples of Barcelona, Seville and Saragossa (Spain)," Bulletin of Geography. Socio-economic Series, De Gruyter Open, vol. 29(29), pages 47-64, September.

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