The New Transatlantic Capitalism and the Prospects for Job Creation in the Recovery

The paper, published as part of the project 'New Atlantic Capitalism,' shows how, in contrast to the outcome of earlier recessions, European labor markets had weathered the effects of the Great Recession noticeably better than that of the United States, how on both sides of the Atlantic many of the jobs lost during the Great Recession had likely disappeared permanently, and describes how the United States and Europe faced different policy challenges in addressing this shock.