This paper examines how the increase in under-employment since the financial crisis stems from both cyclical and structural factors, notably the gradual shift of employment toward more demand-driven service sectors. The increase in under-employment has disproportionately affected young, female...

Using a large panel of OECD countries this paper studies the link between debt and macroeconomic stability by comparing the evolution of balance sheet aggregates and economic output in high- and lowdebt environments. While the relationship between debt and economic growth has been extensively...