|
||||
|
||||
European Unemployment: The Evolution of Facts and Ideas
Olivier J. Blanchard Massachusetts Institute of Technology (MIT) - Department of Economics; National Bureau of Economic Research (NBER) October 10, 2005 MIT Department of Economics Working Paper No. 05-24 Abstract: In the 1970s, European unemployment started increasing. It increased further in the 1980s, to reach a plateau in the 1990s. It is still high today, although the average unemployment rate hides a high degree of heterogeneity across countries. The focus of researchers and policy makers was initially on the role of shocks. As unemployment remained high, the focus has progressively shifted to institutions. This paper reviews the interaction of facts and theories, and gives a tentative assessment of what we know and what we still do not know.
Keywords: unemployment, institutions, shocks, hysteresis, labor market JEL Classifications: E24, J6 Working Paper SeriesDate posted: October 18, 2005 ; Last revised: June 12, 2006Suggested CitationContact Information
|
|
||||||||||||||||||||||
© 2009 Social Science Electronic Publishing, Inc. All Rights Reserved. Terms of Use Privacy Policy
This page was served by apollo2 in 0.453 seconds.