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The US-European Unemployment Divide Revisited: The Role of Growth and Convergence

Author

Listed:
  • Christopher A Pissarides

    (London School of Economics)

Abstract

In this paper I argue that most comparisons of the unemployment dynamics in the United States and Europe since the war incorrectly neglect the role of technological catch-up in Europe up to the late 1960s and the contribution of the different growth experiences in the two continents. Growth has a big impact on unemployment in econometric estimation. I use established estimates to calculate the effect of catch-up and growth on unemploymen

Suggested Citation

  • Christopher A Pissarides, 2006. "The US-European Unemployment Divide Revisited: The Role of Growth and Convergence," 2006 Meeting Papers 363, Society for Economic Dynamics.
    • Handle: RePEc:red:sed006:363
    as

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    More about this item

    Keywords

    unemployment; convergence dynamics; growth; European unemployment; productivity slowdown;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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