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Causes of the 1980s Slump in Europe

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Author Info

  • J.-P. Fitoussi

    (University of Paris)

  • E. S. Phelps

    (Columbia University)

Abstract

UNEMPLOYMENT in Europe has reached levels in this decade that have not been seen since the Great Depression. The annual unemployment rate in the European Economic Community rose sharply in 1981 and continued rising to its 1984-85 plateau. In contrast, the U.S. unemployment rate, which also rose to a postwar record level, nearly regained its 1980 level by 1985, as shown below.

(This abstract was borrowed from another version of this item.)

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Bibliographic Info

Article provided by Economic Studies Program, The Brookings Institution in its journal Brookings Papers on Economic Activity.

Volume (Year): 17 (1986)
Issue (Month): 2 ()
Pages: 487-520

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Handle: RePEc:bin:bpeajo:v:17:y:1986:i:1986-2:p:487-520

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Related research

Keywords: macroeconomics; slump; unemployment; Europe; EEC; macroeconomic theory;

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Blog mentions

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  1. Interest rates, inflation & mechanisms
    by chris dillow in Stumbling and Mumbling on 2014-04-28 13:47:19
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Cited by:
  1. Froot, Kenneth A & Klemperer, Paul D, 1989. "Exchange Rate Pass-Through When Market Share Matters," American Economic Review, American Economic Association, American Economic Association, vol. 79(4), pages 637-54, September.
  2. Howard R. Vane & Chris Mulhearn, 2009. "Interview with Edmund S. Phelps," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 23(3), pages 109-24, Summer.
  3. Bennett T. McCallum, 1987. "The case for rules in the conduct of monetary policy: a concrete example," Economic Review, Federal Reserve Bank of Richmond, Federal Reserve Bank of Richmond, issue Sep, pages 10-18.

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