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The story of misleading rates and omitted demographic changes.The post-crisis youth employment in 33 European countries

100%
Michoń P.
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu
|
2018
|
issue 510
125-139
EN
Literature review has shown that the demographic dimension of the labour market changes remains generally overlooked. The paper aims at filling the gap. The main question asked in the paper is: what are the long-term consequences of the crisis 2008–2009 for youth labour market in the European countries? In order to answer the question, the changes in youth employment to population ratio in 33 European countries are analysed. Any change in the employment to population ratio is a result of combined demographic and labour market effect. While the demographic changes vary between countries; it is argued that a crosscountry comparative analysis that does not take into account the role of demographic shifts is likely to provide a misleading picture of the labour market conditions.
2

The Impact of the Great Recession on Monetary and Fiscal Policy in Developed Market Economies

86%
Šehović D.
Business Systems Research Journal
|
2015
|
vol. 6
|
issue 1
56-71
EN
Background: With the occurrence of the crisis in 2007, which caused the largest economic contraction since the Great Depression in the thirties, it has become evident that the previous understanding of strategies, effects and roles of monetary and fiscal policy should be redefined. Objectives: The aim of this paper is to illustrate a possible expected change in monetary and fiscal policy in developed market economies that could occur as a consequence of the Great Recession. Methods/Approach: The paper provides a comparative analysis of various primary economic variables related to the developed OECD countries, as well as the empirical testing of the selected theoretical assumptions. Results: The changes in monetary policy refer to the question of raising target inflation, considering a possible use of aggregate price level targeting and paying attention to the role of central banks in suppressing the formation of an asset bubble. The success of fiscal policy in attaining stabilization depends on the size of possible fiscal measures and creation of automatic stabilizers. Conclusions: For the most part, monetary and fiscal policies will still stay unchanged, although some segments of these policies need to be improved.
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