Recessions lead to short-term job loss, lower levels of happiness and decreasing income levels. There is growing evidence that workers who first join the labour market during economic downturns suffer from poor job matches that have a sustained detrimental effect on their wages and career...

The recession of 2008-2009 inflicted a larger cumulative loss of UK output than any of the other post-war recessions. Nevertheless, employment rates remained higher than might have been expected given the experience of previous recessions. The main reasons for this appear to be a combination of...

The researchers note that there have been historically unprecedented falls in UK real wages since the start of the Great Recession. What's more, the long US experience of stagnant real wages (median real weekly earnings in the United States in 2013 were at about the same level as in 1979) might...

Barbara Petrongolo surveys the research evidence on the effectiveness of the 'sticks' and 'carrots' of active labour market policies.

Contrary to popular belief, the incidence of domestic violence in Britain does not seem to have risen during the recession. But according to research by Jonathan Wadsworth and colleagues, men and women have experienced different risks of unemployment - and these have had contrasting effects on...

Contrary to popular belief, the incidence of domestic violence in Britain does not seem to have risen during the recession. But according to research by Jonathan Wadsworth and colleagues, men and women have experienced different risks of unemployment - and these have had contrasting effects on...

Barbara Petrongolo surveys the research evidence on the effectiveness of the 'sticks' and 'carrots' of active labour market policies.

Labor market consequences are at the forefront of most debates on the merits of trade liberalization. Preferential trade agreements (PTAs) have become the primary form of trade liberalization in most countries, and several studies have shown that discriminatory and nondiscriminatory trade...

This paper illustrates why fiscal policy becomes more effective as unemployment rises in recessions. The theory is based on the equilibrium unemployment model of Michaillat (forthcoming), in which jobs are rationed in recessions. Fiscal policy takes the form of government spending on...

This paper reviews a new framework for analyzing the interrelationship between inequality, unemployment, labor market frictions, and foreign trade. This framework emphasizes firm heterogeneity and search and matching frictions in labor markets. It implies that the opening of trade may raise...