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Wiley InterScience | |||||||||||||||
  Economic PolicyVolume 21 Issue 45, Pages 5 - 59 Published Online: 31 Jan 2006 © 2010 Centre for Economic Policy Research, Center for Economic Studies, Maison des Sciences de l'Homme
Abstract | References | Full Text: HTML, PDF (Size: 685K) | Related Articles | Citation Tracking  European unemployment: the evolution of facts and ideas Copyright © CEPR, CES, MSH, 2006 SUMMARY
European unemploymentIn 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. — Olivier Blanchard | 
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