Unemployment Persistence in a Small Labour Market
This paper reviews previous research on Irish unemployment. It examines the reasons for the persistence of high unemployment and the relevence of the concept of a time-varying rate of "equilibrium" unemployment in a small labour market. The links between Irish and British unemployment, and the effects on economic growth on Irish unemployment, are explored. The difficulty of establishing links between Irish labour market conditions and wage and price inflation are documented. The paper concludes with a discussion of contribution of centralized wage bargainingto the recent impressive performance of the Irish labour market.
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|Date of creation:||1998|
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