Buy custom Explaining European Unemployment: Testing the NAIRU Hypothesis and a Keynesian Approach
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Business
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Number of pages / Number of words: |
36 / 10041 |
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11) as its policy
goal. But how is this to be achieved?
Most of the policies designed to combat unemployment focus on labor market
reform. For example Siebert writes âindeed, the specter of unemployment that is
haunting Europe will not be exorcised unless governments are prepared to undertake
major reforms of the institutional set up of the labor marketâ (Siebert 1997, 53)...
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Stockhammer
the last 25 years are a central reason for Europeâs poor labor market performanceâ
(Siebert, 1997, 39). This approach, which is based on the NAIRU theory, has been
taken up by governments and supranational organizations in their recommendations
on labor market policy. For example, the OECD offers a detailed list on how
to increase labor market flexibility (OECD 1997), advising how to reduce and
shorten unemployment benefits, reduce employment protection, and decentralize
collective bargaining...
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“Romania And Bulgaria Are Scheduled To Join To The European Union On 1 January 2007. Using Market Analysis, Discuss Some Possible Implications For The Uk Labor Market.”
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