Abstract

References (72)

Beta

Citations (38)

Beta

Download | Share | Email | Add to Briefcase | Buy Hard Copy

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 Series

Date posted: October 18, 2005 ; Last revised: June 12, 2006

Suggested Citation

Blanchard, Olivier J., European Unemployment: The Evolution of Facts and Ideas (October 10, 2005). MIT Department of Economics Working Paper No. 05-24. Available at SSRN: http://ssrn.com/abstract=825885

Export to: Export Citation What's this?

Contact Information