This paper examines whether the economic crisis induced by the COVID-19 pandemic exhibits a Schumpeterian "cleansing" of less productive firms. Using firm-level data for 31 economies, the study finds that less productive firms have a higher probability of permanently closing during the crisis,...

The recession in India and the UK peaked in 2017 due to the implications of new policy initiatives. The outbreak of the COVID-19 pandemic at the beginning of 2020 intensified the crisis, causing a drastic decline in aggregate demand and output. India and the UK have resorted to monetary and...

This article provides a comparative study of the labour market and social policy measures introduced in light of the COVID-19 crisis in Denmark, France, Germany, Italy and the United Kingdom between March 2020 and January 2021. Its main aim is to understand whether the crisis response has...

This paper identifies and discusses the regional heterogeneity of the Brazilian great economic recession of 2014-16. Specifically, we outline a state-level chronology of the recession by applying the Bry-Boschan algorithm, using the states' monthly index of economic activity as reference...

In the wake of the financial and economic crises the ripple effects of which are still felt, the European Commission made efforts to develop novel schemes to address the problem of unemployment attributed to the lack of ample competitiveness within the Single Market. This paper compares the...

This paper investigates Germany's vulnerability to the ongoing Euroland crisis. In 2010-11, Germany experienced a strong rebound from the global financial crisis of 2008-09. The Euroland crisis then meant record low interest rates and a depressed euro that boosted German extra-area exports. But...

This paper analyzes the effectiveness of the tax and transfer systems in the European Union and the US to act as an automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the...

The current economic crisis has hit all European countries hard, but some are much more severely affected others. The problems manifest in European peripheral countries, especially Ireland, Spain, and Greece, have roots in domestic policy mistakes. However, the European context of these policy...

In 2019, the employment rate among 25- to 64-year-olds in the UK reached 80% - the highest on record, and considerably higher than the 76% rate recorded shortly before the Great Recession. In this paper, we investigate this growth across several dimensions. We analyse which sectors, demographic...