The Great Recession of 2008-09 was the deepest that many countries have experienced since the 1930s.
By the time the Lehman Brothers collapsed in 2008, all OECD countries were in some kind of recession. Understanding how the labour market in different countries responded to the fall and demand is central to making sense of the impact of the recession on OECD economies.
Drawing on recent analysis, Nobel Laureate Professor Sir Christopher Pissarides will explore the impact of the Great Recession on Unemployment in the US, UK and Germany. In a recent paper, Pissarides found that demand revived in the United States and Germany but unemployment responded much more favourably in Germany than in the US.
What led to these differing experiences? What policies help the unemployed in recession and in recovery? What was the US experience with the extension of unemployment benefit? And how did the UK labour market respond in the context of the coalition government’s debt reduction programme.
This event is kindly supported by the ESRC.