The US-European Unemployment Divide Revisited: The Role of Growth and Convergence

Christopher Pissarides

No 363, 2006 Meeting Papers from Society for Economic Dynamics

Abstract: In this paper I argue that most comparisons of the unemployment dynamics in the United States and Europe since the war incorrectly neglect the role of technological catch-up in Europe up to the late 1960s and the contribution of the different growth experiences in the two continents. Growth has a big impact on unemployment in econometric estimation. I use established estimates to calculate the effect of catch-up and growth on unemploymen

Keywords: unemployment; convergence dynamics; growth; European unemployment; productivity slowdown (search for similar items in EconPapers)
JEL-codes: E24 J64 (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed006:363

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