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Examines the main factors influencing unemployment at both an aggregate level and at an individual level and assesses the role of policies to bring unemployment down.
Spain has the most serious and persistent unemployment problem in Europe, with an unemployment rate that reached 24.6 percent in early 1994. This paper explores the characteristics of this unemployment problem, its causes, and provides a brief discussion of recent labor market reform measures and their likely Impact. A demographic shift in recent years has produced a large rise in female labor force participation and a decrease in agricultural jobs to which the economy has been unable to adjust. The effects of generous unemployment benefits and the large underground economy may explain 6–12 percentage points of the resulting unemployment, but the remainder must be explained by failures and rigidities in the labor market. The paper presents econometric evidence that unemployment displays hysteresis, and that wages are not responsive to changes in the unemployment rate. This evidence supports the claim that insider-outsider factors and rigidities in the legal structure of the labor market are responsible for much of the high unemployment rate. Recent reforms have improved the functioning of the labor market, but they are unlikely to be sufficient to reduce unemployment to single digit rates without further action.
We develop a framework where mismatch between vacancies and job seekers across sectors translates into higher unemployment by lowering the aggregate job-finding rate. We use this framework to measure the contribution of mismatch to the recent rise in U.S. unemployment by exploiting two sources of cross-sectional data on vacancies, JOLTS and HWOL, a new database covering the universe of online U.S. job advertisements. Mismatch across industries and occupations explains at most 1/3 of the total observed increase in the unemployment rate, whereas geographical mismatch plays no apparent role. The share of the rise in unemployment explained by occupational mismatch is increasing in the education level.
The creation of the European Central Bank and the Euro have brought new challenges to EU integration and economic policy. This book looks into issues of monetary and factor market policies. The analysis presents new theoretical and empirical research on the current decline of the Euro. Issues regarding exchange rate policies and international economic relations are also addressed.
This book, edited by S.G.B. Henry and Dennis J. Snower, examines the high unemployment that has plagued five European countries- France, Germany, Italy, Spain, and the United Kingdom- for more than a decade. Its methodology focuses on the mechanisms that prevent employers and employees from adjusting promptly to changing market opportunities. Chief among these mechanisms are outdated economic structures, the power of labor unions, rising nonwage labor costs, and the disparity between unemployed workers and available jobs. Although cross-country differences indicate that there is no common cause for joblessness in Europe, the book discusses a unique characteristic of the European labor market- that unemployment not only rises during recessions, but does not fall when economic weaknesses are overcome.
This ground-breaking book presents incisive studies by sixteen leading academics, labour policymakers, employment services professionals, and employment researchers from Italy, the United Kingdom, Spain, Germany, Belgium, and Poland. The articles provide an excellent overview of employment services experience throughout the EU, and demonstrate that careful application of active labour market measures can produce positive results in combating long-term unemployment. Notable for its emphasis on the proven power of cooperation among various stakeholders in reducing unemployment, New European Approaches to Long-Term Unemployment will be a welcome resource for employment services both public and private, other public labour and employment organisations, and employers, as well as to academics, lawyers, and other interested professionals. -- Provided by publisher.
Zagler investigates the interaction between changes in the level of unemployment and changes in the economic rate of growth. It asks, both in theory and in evidence, whether a change in the growth rate of the economy will affect the level of unemployment which the economy experiences and whether a decline in the level of unemployment will foster or deteriorate the growth performance of the economy.
This special edition of "Schmollers Jahrbuch" has been compiled to illustrate the potential value of comparative European studies. As Melvin Kohn says, "cross-national research is valuable, even indispensable, for establishing the generality of findings and the validity of interpretations derived from single-nation studies. It is equally valuable, perhaps even more valuable, for forcing us to revise our interpretations to take account of cross-national differences and inconsistencies that could never be uncovered in single-nation studies".Cross-country comparisons are of immense potential value for different actors. Within Europe they are of likely significance:- To the institutions of the EU itself, offering a detailed map of variations in social and economic experiences between countries and groups of countries.- To policy makers at the national level, showing how far the social and economic problems observed locally are experienced in common with other European countries.- To social scientists seeking to understand the processes and results of change. If the influences identified in one country are not generalisable to other countries, it is necessary to develop hypotheses about the reasons for the differences.- To analysts of social policy looking for general conclusions about the influence of government actions on individuals' lives in Europe.There are many different approaches to cross-country research. Summary macro-data may be compared across many countries. At the other extreme, highly detailed studies can be undertaken of the effects of policy in just two or three countries. The papers in this compilation are focused on micro-level data about individuals and households in most of the countries in the EU. They are mostly based on one cross-national survey, the European Community Household Panel (ECHP). Most of them have been contributed by members of the European Panel Analysis Group (EPAG).
Eurosystem.