Two Views on the Deterioration of European Labor Market Outcomes

Richard Rogerson

Journal of the European Economic Association, 2004, vol. 2, issue 2-3, 447-455

Abstract: This paper challenges the consensus view on the deterioration of European labor market outcomes relative to the United States. When looking at employment to population ratios rather than unemployment rates, I find that the deterioration begins in the mid-1950s and continues through the mid 1990s. I also present evidence to suggest that the key to understanding this deterioration is to understand why Europe has not developed a market service sector similar to the United States. (JEL: E2, J2). Copyright (c) 2004 The European Economic Association.

Date: 2004
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