The Brief investigates the role of policy uncertainty in explaining the persistently high unemployment rate in the euro area after the Great Recession and the different impact of uncertainty on flows into and out of unemployment.

The paper elaborates on the employment intensity of growth. Previous evidence regarding this question is surveyed. Empirical results concerning Europe and selected other industrial countries reveal that the cyclical link between unemployment and growth is still stable in the nineties. However,...

This paper reviews the accumulated theory and evidence on the sources of European underperformance in terms of economic growth and unemployment. It takes the view that the main problem lies with labor market institutions, ranging from negotiation structures to hiring and firing costs,...