Kevin Daly, Loughlan O'Doherty, 05 March 2018

Recent years have seen emerging market economy inflation rates converge towards developed economy rates, as well as convergence between emerging markets. The sustained improved inflation performance in emerging markets has occurred even as unemployment in many of these economies has fallen to record lows. This column attributes the improved performance to two factors: increases in monetary policy credibility following the widespread introduction of inflation targeting, and a reduction in the frequency of emerging market currency crises, reflecting a secular improvement in their balance sheets.

Samuel Bentolila, Jose Ignacio García Pérez, Marcel Jansen, 09 March 2017

Long-term unemployment is one of the most persistent consequences of the Great Recession, particularly in Spain, where external factors were compounded by domestic problems. This column analyses the mechanisms that worked to create such widespread and persistent long-term unemployment. To improve the prospects of the long-term unemployed, Spain should step up its efforts to implement effective active labour market policies.

Samuel Bentolila, Marcel Jansen, 14 November 2016

Almost half of all unemployed people in Europe have been looking for a job for over a year, causing considerable mental and material stress on those affected and pushing many of them to the margins of the labour market. This column introduces a new VoxEU eBook that examines patterns of long-term unemployment across key European countries and asks what measures have proven effective in helping people back into work and what more can be done.

Steffen Altmann, Armin Falk, Simon Jäger, Florian Zimmermann, 03 August 2015

A key question for policymakers is how long-term unemployment can be effectively reduced. This column presents new evidence from a large-scale field experiment in which job seekers were provided with information and encouragement. The results indicate that targeted information provision can be an effective policy tool, in particular in the combat against long-term unemployment.

Barbara Petrongolo, 27 April 2014

Long-term unemployment in the UK increased substantially after the recent recession. Many policy interventions have attempted to address this problem. The UK’s long-term unemployed face tougher requirements in return for their benefits – community work, training programmes, or daily visits to the Jobcentre. This column tries to assess the likely success of the UK government’s strategy by surveying the effectiveness of the ‘sticks’ and ‘carrots’ of active labour market policies.

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