AIAS Lunch Seminar 12 februari - Béla Szörfi (European Central Bank)

‘Comparisons and contrasts of the impact of the crisis on euro area labour markets’

Béla Szörfi – European Central Bank (ECB)

Day: Thursday 12 February 2015
Time: 12.15 – 13.15 hrs.
Location: AIAS, 2nd floor, G building, Nieuwe Prinsengracht 130, Amsterdam
Registration: Please send an email, preferably before Wednesday 11 February, 12.00 hrs. to register.
A sandwich will then be provided.


Comparisons and contrasts of the impact of the crisis on euro area labour markets

Presentation by Béla Szörfi (ECB), based on the forthcoming ECB Occasional Paper “Comparisons and contrasts of the impact of the crisis on euro area labour markets
The forthcoming report was drafted by a team primarily consisting of staff from the European System of Central Banks. The team was chaired by Robert Anderton and the project was coordinated by Valerie Jarvis and Béla Szörfi.

The global financial and economic crisis has had a heavy impact on euro area labour markets including two euro area recessions in 2008-2009 and 2011-2013. A notable feature throughout the crisis has been the considerable degree of cross-country heterogeneity of labour market adjustments with some economies emerging relatively unscathed, while others have seen steep and persisting increases in unemployment. This paper analyses the impacts of the crisis on euro area labour markets, paying particular attention to the differential impact of the two euro area recessions of the crisis and the interplay of sectoral and institutional features driving labour market outcomes.
Despite on-going structural reforms in some euro area countries, progress has been partial and uneven across the euro area. Further reductions in labour market rigidities are necessary to increase and accelerate the adjustment capacity of euro area labour markets and help reduce the current high levels of structural unemployment.

Link to the October 2014 ECB Monthly Bulletin Article “The impact of the economic crisis on euro area labour markets”, which is based on the Occasional Paper:


Béla Szörfi has been working as an economist at the Output and Demand Division of the ECB since 2012. His main fields are euro area labour markets and potential output issues. Previously he worked at the National Bank of Hungary (2008-2012) and at one of the leading economic think tanks of Hungary (2004-2008). He graduated from economic policy at the Corvinus University and from economics at the Central European University.

The next lunch seminar 26 February

Do Welfare States Inevitably Face a Demographic Hangover?
David Hollanders
University of Amsterdam – AIAS

Click here for all the AIAS lunch seminars from January – July 2015

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