Labour markets have reacted very differently to the COVID-19 crisis. In the US, the impact on unemployment rates was rapid across all states. They increased sharply in March and April 2020 and recovered steadily thereafter. In Europe, by contrast, unemployment increased far less, and the...

This paper conducts an in-depth analysis of the National Recovery and Resilience Plans (NRRPs) of Austria, Belgium, and Germany. Exploiting a detailed database that covers all the investments and reforms included in the NRRPs and building on insights from semi-structured expert interviews, we...

The position taken by politicians and important pressure groups in Germany concerning EMU will depend to a large extent on its labour market implications - and thus on the (perceived) impact of exchange rate variability on employment and unemployment. Most economists would assume this impact to...

As unemployment climbs to new heights, Europe's policy-makers are desperately casting about for the few instruments with which the EU can claim to foster growth. After a thorough examination of the facts on the ground, however, this paper finds that the North and the South of the euro area are...

The European Commission awarded a contract in November 2005 to a consortium composed of the TARKI Social Research Institute (Hungary), CASE, Center for Social and Economic Research (Poland) and CEPS to analyse the socio-economic developments and the process of structural reforms in what were...

The ECB has been arguing in the past that since there is no trade-off between price stability and financial stability, the pursuit of price stability is the best a central bank can do to also maintain financial stability. We argue that there is a potential trade-off between price stability and...