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Full Employment in Western Europe and the Regulatory Regime: An Institutional and Historical Analysis Together with a Commentary on Government as an Entrepreneur

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  • Singh, Ajit

Abstract

A serious blemish of the present economic era is the high rates of unemployment which currently afflict developed countries. Unemployment has reached high levels in several European countries as the following figures suggest. It is nearly 10% of the labour force in France, 24.5% in Greece, 15.3% in Ireland, 10.8% in Italy, 25.2% in Spain, 16.4% in Portugal, 8.1% in Sweden, 8.2% in the UK, and 8.2% in USA. The average OECD unemployment increased from 6.8% in 2005, and 6.2% in 2006 to 8.2% in 2011 and 8.2% in 2012. In addition there is further unemployment due to factors such as the discouraged worker effect and the high incidence of involuntary part-time work.

Suggested Citation

  • Singh, Ajit, 2013. "Full Employment in Western Europe and the Regulatory Regime: An Institutional and Historical Analysis Together with a Commentary on Government as an Entrepreneur," MPRA Paper 53038, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:53038
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    References listed on IDEAS

    as
    1. Crafts,Nicholas & Toniolo,Gianni (ed.), 1996. "Economic Growth in Europe since 1945," Cambridge Books, Cambridge University Press, number 9780521499644, November.
    2. Glyn, Andrew & Hughes, Alan & Lipietz, Alan & Sigh, Ajit, "undated". "The Rise and Fall of the Golden Age," WIDER Working Papers 295573, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
    3. Crafts, Nicholas, 2012. "Western Europe's Growth Prospects: an Historical Perspective," CEPR Discussion Papers 8827, C.E.P.R. Discussion Papers.
    4. Mariana Mazzucato, 2015. "The Green Entrepreneurial State," SPRU Working Paper Series 2015-28, SPRU - Science Policy Research Unit, University of Sussex Business School.
    5. Grout, Paul A, 1984. "Investment and Wages in the Absence of Binding Contracts: A Nash Bargining Approach," Econometrica, Econometric Society, vol. 52(2), pages 449-460, March.
    6. Singh, Ajt, 2008. "Historical Examination of the Golden Age of Full Employment in Western Europe," MPRA Paper 24304, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Full employment; unemployment; developed countries; Regulatory regime; historical analysis;
    All these keywords.

    JEL classification:

    • J0 - Labor and Demographic Economics - - General
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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