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Maastricht 2042 and the Fate of Europe: Toward Convergence and Full Employment

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  • James K. Galbraith
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    Abstract

    Unemployment in the European Union (EU) is a serious problem that threatens to disrupt the integration of accession countries, the character of individual countries, and the continued existence of the EU. According to Senior Scholar James K. Galbraith, European integration poses a huge conundrum for European employment because the conventional theory explaining unemployment in EuropeÐlabor market rigiditiesÐis wrong. The application of this policy will not cure European unemployment, but it could destroy the economic promise of the EU for its poorer regions and the accession countries.

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    File URL: http://www.levyinstitute.org/pubs/ppb_87.pdf
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    Bibliographic Info

    Paper provided by Levy Economics Institute in its series Economics Public Policy Brief Archive with number ppb_87.

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    Date of creation: Nov 2006
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    Handle: RePEc:lev:levppb:ppb_87

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    1. Dean Baker & Andrew Glyn & David Howell & John Schmitt, 2002. "Labor Market Institutions and Unemployment: A Critical Assessment of the Cross-Country Evidence," SCEPA working paper series. SCEPA's main areas of research are macroeconomic policy, inequality and poverty, and globalization. 2002-17, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    2. John Schmitt & Ben Zipperer, 2006. "Is the U.S. a Good Model for Reducing Social Exclusion in Europe?," CEPR Reports and Issue Briefs 2006-17, Center for Economic and Policy Research (CEPR).
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