Growth, wealth and the natura rate: Is Europe's jobs crisis a growth crisis?

European Economic Review

Volumn 41, Issue 3-5, 1997, Pages 549-557

  Hoon, Hian Teck ^a   Phelps, Edmund S ^b  

^a NATIONAL UNIVERSITY OF SINGAPORE   (Singapore)

^b Och Spine at New York Presbyterian Hospitals   (United States)

Author keywords

Growth; Natural rate of unemployment; Technical progress; Unemployment

Indexed keywords

EMPLOYMENT CRISIS; LABOUR MARKET; TECHNOLOGICAL DEVELOPMENT; UNEMPLOYMENT;

EUROPE, (WEST);

EID: 0031436360     PISSN: 00142921     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0014-2921(97)00021-4     Document Type: Article

References (12)

1. Aghion, P. and P. Howitt, 1994, Growth and unemployment, Review of Economic Studies 76.
2. Bruno, M. and J. Sachs, 1985, The economics of worldwide stagflation (Harvard University Press, Cambridge, MA).
3. Grubb, D., R. Jackman and R. Layard, 1982, Causes of the current stagflation, Review of Economic Studies 49, 707-730.
4. Hoon, H.T. and E.S. Phelps, 1992, Macroeconomic shocks in a dynamized model of the natural rate of unemployment, American Economic Review 82, 889-900.
5. Hoon, H.T. and E.S. Phelps, 1996, Payroll taxes and VAT in a labor-turnover model of the 'natural rate', International Tax and Public Finance 3, 367-381.
6. Layard, R. and S. Nickell, 1986, Unemployment in Britain, Economica 53, 121-169.
7. Manning, A., 1992, Productivity growth, wage setting and the equilibrium rate of unemployment, Discussion paper no. 63 (Center for Economic Performance, London) March.
8. Olson, M., 1995, The secular increase in European unemployment rates, European Economic Review 39, 593-599.
9. Orszag, J.M. and G. Zoega, 1996, Wages ahead of demand, Typescript (Economics Department, Birkbeck College, London) May.
10. Phelps, Edmund S., 1968, Money-wage dynamics and labor-market equilibrium, Journal of Political Economy 76
11. Phelps, Edmund S., 1994, Structural slumps: The modern equilibrium theory of unemployment, interest and assets (Harvard University Press, Cambridge, MA).
12. Pissarides, C.A., 1990, Equilibrium unemployment theory (Basil Blackwell, Oxford).