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Europe in 1984: The Case for Unsustainable Growth (1984)

In: Tackling Unemployment

Author

Listed:
  • G. Basevi
  • O. Blanchard
  • W. Buiter
  • R. Dornbusch

Abstract

The European economy remains in the doldrums. Though output is rising, the general opinion, reflected in the EC Commission’s projections, is that unemployment will remain at around 10 per cent for some years. Thus when Europeans speak of recovery these days, they mean that output will soon be growing at its trend rate of growth. This will not increase employment, for output per worker will grow as fast as output. With the labour force constant, there will thus remain the same margin of unemployed labour as at present.

Suggested Citation

  • G. Basevi & O. Blanchard & W. Buiter & R. Dornbusch, 1999. "Europe in 1984: The Case for Unsustainable Growth (1984)," Palgrave Macmillan Books, in: Tackling Unemployment, chapter 22, pages 465-514, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-37920-6_22
    DOI: 10.1057/9780230379206_22
    as

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