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European Unemployment: The Evolution of Facts and Ideas

Olivier Blanchard ()

No 11750, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: E24 J6 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-eec, nep-lab and nep-mac
Date: 2005-11
Note: EFG LS
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Citations: View citations in EconPapers (49) Track citations by RSS feed

Published as Olivier Blanchard, 2006. "European unemployment: the evolution of facts and ideas," Economic Policy, CEPR, CES, MSH, vol. 21(45), pages 5-59, 01.

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