Contributions

  • Massachusetts Institute of Technology. Dept. of Economics - Contributor

Publication

2005 - Massachusetts Institute of Technology, Dept. of Economics, Cambridge, MA, Massachusetts

Language

English

Word Count

14,750 words, Guess

Page Count

59 pages

Identifiers

Description

In the 1970s, European unemployment started increasing. It increased further in the 1980s, to reach a plateau in the 1990s. It is still high today, although the average unemployment rate hides a high degree of heterogeneity across countries. The focus of researchers and policy makers was initially on the role of shocks. As unemployment remained high, the focus has progressively shifted to institutions. This paper reviews the interaction of facts and theories, and gives a tentative assessment of what we know and what we still do not know. Keywords: unemployment, institutions, shocks, hysteresis, labor market. JEL Classifications: E4, J6.

Subjects

Topics

Places

Series Statement

  • Working paper series / Massachusetts Institute of Technology, Dept. of Economics -- working paper 05-24
  • Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 05-24.

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