IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

Employment-led recovery for Europe: an alternative to austerity

Listed author(s):
  • Cozzi, Giovanni
  • McKinley, Terry
  • Michell, Jo

Employment generation should be a high priority for European policy makers, in particular in light of the extremely high levels of unemployment in many European countries in the aftermath of the globla financial ciris. Using the Cambridge Alphametrics Model (CAM) this paper compare and contrasts two policy scenarios: an austerity scenario and an employment-focuses scenario. In the the austerity scenario we assume taht the current basic direction of austerity policies is maintained through 2030. On the other hand, in the employment-focused scenario we assume increases in government spending, government income and private investmetn as the strategic basis to generate substantial increases in GPD and emplyoment in Europe. Our alternative employment-led recovery scenario also assumes that the European budget will be gradually increased and directed to spur public and private investment across Europe, and particularly in the Eurozone periphery. Results generated by the CAM model for these two scenarios show that European nations would experience significantly higher growth adn employment rates under our alternative expansionary employment-focused scenario.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Paper provided by University of Greenwich, Greenwich Political Economy Research Centre in its series Greenwich Papers in Political Economy with number 14057.

in new window

Date of creation: 2014
Handle: RePEc:gpe:wpaper:14057
Contact details of provider: Postal:
020 8331 8900

Phone: 020 8331 8900
Fax: 020 8331 8905
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:gpe:wpaper:14057. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Nadine Edwards)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.