This paper compares the depth of the recent crisis and the Great Depression. We use a new data set to compare the drop in activity in the industrialized countries for seven activity indicators. This is done under the assumption that the recent crisis leveled off in mid-2009 for production and...

Before the great recession of 2008-2009, the "flexicurity" model (with flexibility for firms to adjust their labor force along with income security for workers through the social safety net) attracted attention for its ability to deliver low unemployment. But how did it fare during the...

This note examines the extent and patterns of structural changes that have occurred in European economies during the recent crisis using some stylised facts on changing output and employment structures at detailed sectoral level. Focusing mainly on the new EU member states, we compare the...

The paper's main objective is to analyze the collective bargaining response in terms of internal flexibility during the Great Recession (GR) in five EU countries (Spain, Germany, France, Italy, United Kingdom), and three economic sectors (industry, commerce and hospitality, and financial...

The global trading system, a source of prosperity, is under attack on various fronts. The causes run deep and require a strategic response from the European Union and from the main trading nations. The future of the system hinges on the answer to three questions, and the scenarios associated...