Unemployment rose in all economically advanced countries during the recession that began in 2008. It is still above normal levels virtually everywhere in the world. Country experiences varied widely, with Spain and Greece at one extreme of experiencing unemployment rates at over 20 per cent and Germany at the other extreme of experiencing hardly any rise. In this lecture, Professor Pissarides surveyed the different experiences of countries in Europe and elsewhere - examining the reasons for such differences, and drawing conclusions for the conduct of policy in times of recession.
About the Speaker
Professor Christopher Pissarides is School Professor in Economics and Political Science at the London School of Economics. He was elected a Fellow of the British Academy in 2002 and has published widely on macroeconomics and the theory of labour markets. In 2005 he became the first European economist to win the IZA Prize in Labor Economics and in 2010 he won the Nobel Prize in Economic Sciences for his analysis of markets with search frictions.