Author : Mai Dao
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781462308163
Total Pages : 27 pages
Book Rating : 4.3/5 (81 download)
Book Synopsis The Human Cost of Recessions: Assessing It, Reducing It by : Mai Dao
Download or read book The Human Cost of Recessions: Assessing It, Reducing It written by Mai Dao and published by INTERNATIONAL MONETARY FUND. This book was released on 2010-11-11 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recessions leave scars on the labor market. Over 200 million people across the globe are estimated to be unemployed at present resulting from the Great Recession of 2007-09. We assess the human cost of increased unemployment by surveying what is known about the effects of past recessions. If past is prologue, the cost to the unemployed (and society) could be high. The focus of this paper is on advanced economies. To their credit, most countries mounted strong policy responses to minimize the human costs, and the policy actions were notable also for their consistency and coherence across countries.