Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/51904 
Year of Publication: 
2011
Series/Report no.: 
IZA Discussion Papers No. 5680
Publisher: 
Institute for the Study of Labor (IZA), Bonn
Abstract: 
We consider the effects of the financial crisis and subsequent recession on world labour markets. It begins by cataloguing the adverse effects on output of the sudden collapse in demand brought about by the financial crisis in what has come to be called the Great Recession. Next we look at the labour market and how employment and unemployment have been impacted and document the very different responses by country. We then move on to look at attitudinal indicators of the impact of the rising levels of joblessness we observe across most OECD countries. We examine data on well-being and on attitudes to employment. We also examine a number of questions about the impact of globalization that respondents across many European countries were asked in the Spring of 2010. Finally, we examine the policy responses of governments, and consider what lessons might be learned from the marked differences in labour market outcomes following the recession.
Subjects: 
globalization
jobs
JEL: 
J31
J64
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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