Abstract
Shows that the Great Recession was one of the most traumatic global events of the first decade of the twenty-first century. Analyses the macroeconomic and labour market dimensions of the financial crisis of 2007-2009, and provides a global overview, interpreting the causes, consequences and policy responses to the Great Recession from the perspective of both developing and developed countries. Analyses also the impacts on specific population groups, for instance youth, which has been especially hard hit in the OECD countries, and explores policy options for a post-crisis future.