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Unemployment and the Structure of Labor Markets: The Long View


  • Barry Eichengreen.


Understanding the causes of high unemployment requires first understanding the structure of labor markets. This is an historical agenda, since it is only over time that there is significant variation in the institutions structuring labor market outcomes. This paper therefore adopts a long view on the operation of labor markets in order to provide a context for discussions of the sources and solutions to Europe's current unemployment problem. It characterizes the operation of labor markets since the second half of the 19th century. It pursues comparisons with market structure and performance in the interwar years and concludes with implications for today.

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  • Barry Eichengreen., 1994. "Unemployment and the Structure of Labor Markets: The Long View," Economics Working Papers 94-229, University of California at Berkeley.
  • Handle: RePEc:ucb:calbwp:94-229

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    References listed on IDEAS

    1. George A. Akerlof & Paul M. Romer, 1993. "Looting: The Economic Underworld of Bankruptcy for Profit," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 24(2), pages 1-74.
    2. Jenks, Leland H., 1951. "Britain and American Railway Development," The Journal of Economic History, Cambridge University Press, vol. 11(04), pages 375-388, September.
    3. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    4. David de Meza & David C. Webb, 1987. "Too Much Investment: A Problem of Asymmetric Information," The Quarterly Journal of Economics, Oxford University Press, vol. 102(2), pages 281-292.
    5. Jenks, Leland H., 1944. "Railroads as an Economic Force in American Development," The Journal of Economic History, Cambridge University Press, vol. 4(01), pages 1-20, May.
    6. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
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