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Global Macro-Policies for Reducing Persistent High Unemployment Rates in OECD Countries

In: Uncertainty, International Money, Employment and Theory

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  • Louise Davidson

Abstract

The world unemployment situation is very grim. In most industrialized countries unemployment remains stubbornly high. The average unemployment rate in the EU was 11.3 per cent in July 1996, and, with the exception of the United States, unemployment rates in OECD nations have reached or remained close to historical highs not seen since World War II. The 1997 Asian financial collapse implies higher unemployment rates for Europe, Japan and the United States — and perhaps even Latin America in 1998. Does this dire trend mean that with the globalization of the market system, there is little or no hope of restoring full employment in most economies around the world?

Suggested Citation

  • Louise Davidson, 1999. "Global Macro-Policies for Reducing Persistent High Unemployment Rates in OECD Countries," Palgrave Macmillan Books, in: Louise Davidson (ed.), Uncertainty, International Money, Employment and Theory, chapter 9, pages 137-146, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-14991-9_9
    DOI: 10.1007/978-1-349-14991-9_9
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    Cited by:

    1. Hein, Eckhard, 1999. "Zentralbank-Politik und makroökonomische Ergebnisse: eine sozio-institutionelle Interpretation [Central Bank Policies and Macroeconomic Results: A Socio-institutional Interpretation]," MPRA Paper 18881, University Library of Munich, Germany.

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