hires ’ earnings in ireland ”, research technical paper, vol. 2016, no. 6, central bank of ireland. [ 28 ] for a review of these programmes, including evaluations of effectiveness, see “ labour market policy thematic review 2017 : an in - depth analysis of the impact of reforms on inequality ” and igees [ 29 ] card, d., kluve, j., & a. weber ( 2017 ) “ what works? a meta analysis of recent active labor market program evaluations ” journal of the european economic association, volume 16, issue 3, june 2018, pages 894 – 931. [ 30 ] according to the cso, between 25 and 31 % of pup recipients in q4 2020 were economically ‘ inactive ’ – in other words, not working, but also not available or looking for work. [ 31 ] this is because, as the oecd ( 2020 ) has pointed out, the likelihood of re - employment, including through almps, is typically higher for individuals that remain in the labour force ( aside from periods of inactivity due to re - entering education or training ). [ 32 ] the pandemic is accelerating pre - existing employment trends. for example, labour - saving automation in customerfacing settings - to meet public health measures during the pandemic - are unlikely to be reversed, even where they are not necessarily productivity improving. there is some evidence this may affect women especially hard. a recent brookings paper considered historical patterns of workers moving across sectors suggest a limited switching between sectors or occupations in the us. this could mean that considerable upskilling and re - training is required to prevent this sort of mismatch, and a permanent increase in the unemployment rate. [ 33 ] see for example covid - 19 : a backward step for gender equality, work, care, and gender across uk lockdowns & the gender gap and covid - 19 : evidence from eight advanced economies. [ 34 ] lambert, d., mccann, f., mcquinn, j., myers, s. & f. yao ( 2020 ). “ sme nances, the pandemic, and the design of enterprise support policies ”, financial stability note, vol. 2020, no. 8, central bank of ireland. [ 35 ] see speech and q & a by the president of the eurogroup and minister for finance, paschal donohue, td at the dublin economics workshop on

the debt - overhang problem. to go forward we first need to unshackle ourselves. the crawling pace of debt resolution is tying down the economy. if we could not resolve the debt problem in a timely manner and adopt new work practices, it will be next to impossible to compete successfully in the world market. the bank of thailand and the government are alert to this challenge. and the government has already initiated the process of overhaul. one notable attempt at debt restructuring is the establishment of the thai asset management corporation ( tamc ). the entity was set up to reduce distressed assets in the banking system through centralization of npls'management. this should allow banks to resume their normal function and new lending. new lending is needed to provide the working capital to support corporate restructuring as well as business expansion. this way, our energy will be channeled toward more productive enterprises. and, with the authority to liquidate and rehabilitate businesses through swift legal procedures, the tamc is unique in its unprecedented power. next, given that a substantial share of distressed assets remains outside the purview of the tamc, i see the need to expedite the process of corporate debt restructuring which requires a speedy passage of the reformed bankruptcy law. this action will be testimony to the sincere effort that we in the authorities can make for the benefit of our future generations. insofar as the banking sector is concerned, the bank of thailand regards better enforcement of the banking and financial institution regulations as a priority. this is an area that the bank of thailand takes leadership role to strengthen the soundness and efficiency of the financial institutions. our leadership must lead to an outcome which makes practical sense, measures up to international best practices, and must be market - oriented. on this front, we have been actively involved in the consultation process for the new basel capital accord, which will provide a more comprehensive and sensitive approach to addressing risks through the use of minimum capital requirements, supervisory reviews and market discipline. the second agenda of the banking sector reform is enhancing our risk management capacity. toward this end, our supervision group has moved from regulation and transaction - testing toward risk - based supervision. we realize that good rules alone do not automatically translate into honorable practices. therefore, we consider an upright supervisory role as a sine qua non to ensure honest banking practices. the new supervisory practices can be considered a milestone in this area. our aim is to nudge thai banks to change their business practices. currently, they are working