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Mass unemployment : international experience and lessons for policy

Author

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  • Richard Jackman

    (London School of Economics)

Abstract

While variations across countries in the experience of mass unemployment have been extensively analysed, the even more striking variation over time is much less well understood. This paper argues that the capacity of a nation to maintain full employment by means of 'Keynesian' fiscal and monetary policies is constrained no longer so much by the need to contain inflationary pressures (where the wage setting arrangements of corporatist countries are an advantage) as by the growth of international trade and capital mobility. It is argued that traditional corporatist institutions are not well-suited to these developments.

Suggested Citation

  • Richard Jackman, 1993. "Mass unemployment : international experience and lessons for policy," Finnish Economic Papers, Finnish Economic Association, vol. 6(1), pages 5-12, Spring.
    • Handle: RePEc:fep:journl:v:6:y:1993:i:1:p:5-12
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    File URL: http://taloustieteellinenyhdistys.fi/images/stories/fep/f1993_1b.pdf
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    References listed on IDEAS

    as
    1. Barro, Robert J & Gordon, David B, 1983. "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 589-610, August.
    2. Gordon, Robert J, 1982. "Why U.S. Wage and Employment Behaviour Differs from That in Britain and Japan," Economic Journal, Royal Economic Society, vol. 92(365), pages 13-44, March.
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    Cited by:

    1. Aidt, T.S. & Tzannatos, Z., 2005. "The Cost and Benefits of Collective Bargaining," Cambridge Working Papers in Economics 0541, Faculty of Economics, University of Cambridge.
    2. Toke Aidt & Zafiris Tzannatos, 2002. "Unions and Collective Bargaining : Economic Effects in a Global Environment," World Bank Publications - Books, The World Bank Group, number 15241.
    3. Roland de Bruijn, 2006. "Scale Economies and Imperfect Competition in WorldScan," CPB Memorandum 140.rdf, CPB Netherlands Bureau for Economic Policy Analysis.

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    More about this item

    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
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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