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/lp/american-economic-association/unemployment-and-labor-market-rigidities-europe-versus-north-america-AMFsSc2mB6
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- Publisher
- American Economic Association
- Copyright
- Copyright © 1997 by the American Economic Association
- Subject
- Symposium
- ISSN
- 0895-3309
- DOI
- 10.1257/jep.11.3.55
- Publisher site
- See Article on Publisher Site
Abstract
Abstract The received wisdom tells us that the rigidity and inflexibility of European job markets relative to that in the United States is the reason why Europe has high unemployment. This paper argues that this broad brush analysis is simply too vague to be useful. Indeed it is probably positively misleading. Many labor market institutions that conventionally come under the heading of rigidities have no observable impact on unemployment and may otherwise serve a useful purpose.
Journal
Journal of Economic Perspectives – American Economic Association
Published: Aug 1, 1997