IDEAS home Printed from https://ideas.repec.org/a/psl/bnlaqr/199835.html
   My bibliography  Save this article

An economists' Manifesto on unemployment in the European Union

Author

Listed:
  • F. MODIGLIANI

    (Massachussetts Institute of Technology)

  • J.-P. FITOUSSI

    (Observatoir Francais de la Conjoncture Économique)

  • B. MORO

    (Universita' degli Studi di Cagliari)

  • D. SNOWER

    (Birbeck College)

  • R. SOLOW

    (Massachussetts Institute of Technology)

  • A. STEINHERR

    (European Investment Bank)

  • P. SYLOS LABINI

    (Universita' degli Studi di Roma "La Sapienza")

Abstract

In this Manifesto, we make a set of proposals to fight unemployment in the EU. We believe that the European unemployment problem needs to be attacked on two fronts: through a broad spectrum of supply-side policies and the demand management policy. The expansion of aggregate demand is necessary to increase both investment and employment. However, unless supply-side measures are also taken, demand expansion can result in more inflation instead of more employment, because of the mismatch between the demand and supply of labour. What is important to stress is that both demand and supply-side policies must be adopted together by all European countries, in order both to avoid beggar-thy-neighbor problems and, at the same time, to catch all the possible complementary effects of these policies.

Suggested Citation

  • F. Modigliani & J.-P. Fitoussi & B. Moro & D. Snower & R. Solow & A. Steinherr & P. Sylos Labini, 1998. "An economists' Manifesto on unemployment in the European Union," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 51(206), pages 327-361.
  • Handle: RePEc:psl:bnlaqr:1998:35
    as

    Download full text from publisher

    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10601/10485
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    Keywords

    Economic aspects; Employment; Unemployment; European Union;
    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
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • J60 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:psl:bnlaqr:1998:35. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Carlo D'Ippoliti (email available below). General contact details of provider: http://www.economiacivile.it .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.