Bakker, Bas B.; Korczak, Marta; Krogulski, Krzysztof - 2019
In the last decade, over half of the EU countries in the euro area or with currencies pegged to the euro were hit by …. As a result, all countries with risk premium shocks saw unemployment surge, even as euro area core countries managed to … contain unemployment as firms hoarded labor during the downturn. Most striking, wage bills in euro area crisis countries and …