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The International Monetary Fund (IMF) has undergone notable changes by starting collaboration with the European Union (EU). Hence, this paper seeks to estimate the effects of IMF programmes on employment, with data from the EU-28 between 1993 and 2013. In order to control for selection on observable and unobservable variables, the study employs Propensity Score Matching in combination with the Differences-in-Difference estimator. Next, the robustness of the findings is checked by applying four different matching algorithms. Our paper concludes that employment decreases once a country resorts to the IMF, and this impact is still measurable after two years of programme initiation.
Ohanyan et al. (Fri,) studied this question.