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The impact of the economic crisis on EU labour markets: A comparative perspective
Author(s) -
TRIDICO Pasquale
Publication year - 2013
Publication title -
international labour review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.433
H-Index - 46
eISSN - 1564-913X
pISSN - 0020-7780
DOI - 10.1111/j.1564-913x.2013.00176.x
Subject(s) - economics , index (typography) , consumption (sociology) , financial crisis , member states , labour economics , international economics , european union , macroeconomics , social science , sociology , world wide web , computer science
. Using a “crisis management index” to rank the combined GDP and labour market performances of the EU's 27 Member States, the author considers why some countries performed better than others in managing the economic crisis over the period 2007–11. Based on empirical correlations and regression analysis, he concludes that the best performers share a coordinated market economy model: they feature a mix of economic policies and social institutions – including coordination mechanisms and tighter financial regulation – which helped to stabilize their levels of consumption and aggregate demand. Moreover, they do not have flexible labour markets and thus managed to maintain stable employment levels.