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European unemployment: the evolution of facts and ideas

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Olivier Blanchard

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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." Copyright © CEPR, CES, MSH, 2006.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0327.2006.00153.x
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Article provided by CEPR, CES, MSH in its journal Economic Policy.

Volume (Year): 21 (2006)
Issue (Month): 45 (01)
Pages: 5-59
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Handle: RePEc:bla:ecpoli:v:21:y:2006:i:45:p:5-59

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  33. Alain de Serres & Stefano Scarpetta & Christine de la Maisonneuve, 2002. "Sectoral Shifts in Europe and the United States: How They Affect Aggregate Labour Shares and the Properties of Wage Equations," OECD Economics Department Working Papers 326, OECD, Economics Department. [Downloadable!]
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