Bell, David N. F.; Blanchflower, David G. - 2009
This paper considers the issue of unemployment one of the most pressing issues facingthe UK and other governments, as … economy, arguingthat it is clear that the recession commenced in the 2nd quarter of 2008. It then examineswhether this … recession is substantively different from past downturns in the UK andargues that, although the extreme rationing up of credit …