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)
Date: 2005-11
New Economics Papers: this item is included in nep-bec, nep-eec, nep-lab and nep-mac
Note: EFG LS
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (84)

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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