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European Unemployment: Lessons from a Multicountry Econometric Study

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  • Dreze, Jacques
  • Bean, Charles R

Abstract

This paper summarizes the principal empirical findings of the European Unemployment Program. It draws on ten country studies that utilize the macroeconomic framework set out by Sneessens and Dreze (1986). The main conclusions are as follows: (1) a major problem in Europe is that productivity gains are quickly absorbed into wages and the effect of unemployment on wage settlements is generally weak; (2) a wage-price-productivity spiral means the European economies are inflation-prone; (3) demand pressures spill over into the balance of payments rather than leading to price increases; and (4) the major proximate determinant of employment in the 1980s is the level of effective demand. Copyright 1990 by The editors of the Scandinavian Journal of Economics.

Suggested Citation

  • Dreze, Jacques & Bean, Charles R, 1990. "European Unemployment: Lessons from a Multicountry Econometric Study," Scandinavian Journal of Economics, Wiley Blackwell, vol. 92(2), pages 135-165.
    • Handle: RePEc:bla:scandj:v:92:y:1990:i:2:p:135-65
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    Cited by:

    1. Licandro, Omar, 1991. "Q investment models, factor complementary and monopolistic competition," UC3M Working papers. Economics 2794, Universidad Carlos III de Madrid. Departamento de Economía.
    2. repec:zbw:bofrdp:1997_008 is not listed on IDEAS
    3. Jääskelä, Jarkko, 1997. "Incomplete insurance market and its policy implication within European Monetary Union," Research Discussion Papers 8/1997, Bank of Finland.
    4. LICANDRO Omar, 1990. "Uncertainty and Tobin’s Q in a Monopolistic Competition Framework," LIDAM Discussion Papers IRES 1990003, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    5. Fagnart, Jean-Francois & Licandro, Omar & Sneessens, Henri, 1995. "Capacity utilization dynamics and market power," UC3M Working papers. Economics 3906, Universidad Carlos III de Madrid. Departamento de Economía.
    6. Licandro, Omar, 1992. "A Non-Walrasian General Equilibrium Model with Monopolistic Competition and Bargaining," LIDAM Discussion Papers IRES 1992004, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    7. Andreassen Leif, 2010. "General disequilibrium with log-linear prices," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201011, University of Turin.
    8. Omar Licandro, 1992. "Investissement, incertitude de la demande et contraintes de capacités David de la Croix," Économie et Prévision, Programme National Persée, vol. 106(5), pages 85-95.
    9. Christopher Kent & John Simon, 2007. "Productivity Growth: The Effect of Market Regulations," RBA Research Discussion Papers rdp2007-04, Reserve Bank of Australia.
    10. Vincent Hogan, 2001. "Do Taxes cause Unemployment?," Working Papers 200101, School of Economics, University College Dublin.
    11. Oliver Jean Blanchard & Peter Diamond, 1989. "The Beveridge Curve," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 20(1), pages 1-76.
    12. Antonio Rodriguez-Gil, 2018. "Hysteresis and labour market institutions. Evidence from the UK and the Netherlands," Empirical Economics, Springer, vol. 55(4), pages 1985-2025, December.

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