Abstract
Since the first oil shock in 1973, growth performance of European economies has been disappointing. Employment creation proceeded at a reduced rate, further curbed after the second oil shock in 1979. As a consequence unemployment has risen to record levels in the post-war period. While changes in trends of employment growth coincide with the oil shocks this need not imply causality. It rather seems to be the inadequate policy response in an economic environment characterized by rigidities in factor and product markets.
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© 1987 Martinus Nijhoff Publishers, Dordrecht
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Steinherr, A., Weiserbs, D. (1987). Unemployment Policies under Constrained Growth. In: Steinherr, A., Weiserbs, D. (eds) Employment and Growth: Issues for the 1980s. International Studies in Economics and Econometrics, vol 16. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-3605-8_13
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DOI: https://doi.org/10.1007/978-94-009-3605-8_13
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