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

  • Enrico Marelli

    ()

    (Faculty of Economics, Department of Economics, University of Brescia)

  • Marcello Signorelli

    ()

    (Faculty of Political Sciences, Department of Economics, Finance and Statistics, University of Perugia)

  • Joanna Tyrowicz

    ()

    (Faculty of Economic Sciences, University of Warsaw, National Bank of Poland, Rimini Centre for Economic Analysis)

The aim of the paper is to investigate the short-term joint dynamics of productivity and employment during the economic down cycles in the EU economies over the past 20 years. Disentangling the shift in labour demand into a change of employment-productivity schedule and a movement along it, we focus on the last 2-3 crises, highlighting the peculiarities of the last recession. Namely, we demonstrate that many of the EU countries – unlike the United States –do not follow the RBC pattern. We also suggest some possible institutional fundamentals that could explain this phenomenon.

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File URL: http://www.wne.uw.edu.pl/inf/wyd/WP/WNE_WP37.pdf
File Function: First version, 2010
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Paper provided by Faculty of Economic Sciences, University of Warsaw in its series Working Papers with number 2010-14.

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Length: 24 pages
Date of creation: 2010
Date of revision:
Handle: RePEc:war:wpaper:2010-14
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  1. 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.
  2. Jakub Growiec, 2010. "On the measurement of technological progress across countries," National Bank of Poland Working Papers 73, National Bank of Poland, Economic Institute.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. Marianne Baxter & Robert G. King, 1999. "Measuring Business Cycles: Approximate Band-Pass Filters For Economic Time Series," The Review of Economics and Statistics, MIT Press, vol. 81(4), pages 575-593, November.
  8. 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.
  9. Lawrence J. Christiano & Terry J. Fitzgerald, 1999. "The Band pass filter," Working Paper 9906, Federal Reserve Bank of Cleveland.
    • Lawrence J. Christiano & Terry J. Fitzgerald, 2003. "The Band Pass Filter," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(2), pages 435-465, 05.
  10. Darvas, Zsolt & Szapáry, György, 2005. "Business Cycle Sychronization in the Enlarged EU," CEPR Discussion Papers 5179, C.E.P.R. Discussion Papers.
  11. Lee, Jim, 2000. "The Robustness of Okun's Law: Evidence from OECD Countries," Journal of Macroeconomics, Elsevier, vol. 22(2), pages 331-356, April.
  12. Hodrick, Robert J & Prescott, Edward C, 1997. "Postwar U.S. Business Cycles: An Empirical Investigation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(1), pages 1-16, February.
  13. Eichhorst, Werner & Feil, Michael & Marx, Paul, 2010. "Crisis, What Crisis? Patterns of Adaptation in European Labor Markets," IZA Discussion Papers 5045, Institute for the Study of Labor (IZA).
  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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