Unemployment and labor market rigidities: Europe versus North America

Article Abstract:

The high level of unemployment in Europe has been attributed to rigid labor market policies. An analysis of these 'rigidities' was done to identify which features correlate with unemployment. Results have shown that generous benefits for the unemployed combined with a lack of pressure to acquire a new job perpetuate the problem of unemployment. High unionization with a lack of coordination between union leaders and employers, increased taxes and poor educational standards have also been identified as contributory factors to unemployment.

Europe, Economic policy, Labor economics

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Changes in the distribution of wages and unemployment in OECD countries

Article Abstract:

Paul Krugman's hypothesis on wage inequality in Europe caused by a shift in the demand from unskilled to skilled workers is examined. Relative unemployment rates and relative wage data from Organization for Economic Cooperation and Development countries reveal that demand shifts in UK, US and Germany are in conflict with Krugman's hypothesis. Moreover, the role of demand shifts in the European unemployment rate was also proven to be insignificant.

Organization for Economic Cooperation and Development, Income distribution

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The NAIRUS and wages in local labor markets

Article Abstract:

A study was conducted to analyze the Phillips curve and evaluates the non-accelerating-inflation rate of unemployment hypothesis in local labor markets in which unemployment rates have reached both low and high levels in the national average. Quarterly data for 44 metropolitan statistical areas between 1990 and 1997 were examined. Results indicated weaker relationships between unemployment and inflation in local markets than nationally.

Labor market

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