Abstract
World unemployment rose sharply in the mid-1970s following the first oil shock, and again in the early 1980s following the second. But in the USA unemployment then fell back to earlier levels; in Europe it did not. This experience provides a real challenge to economists – as a phenomenon requiring explanation, and as a problem calling for a policy response.
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© 1999 Richard Layard
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Layard, R. (1999). Introduction to Part I. In: Tackling Unemployment. Palgrave Macmillan, London. https://doi.org/10.1057/9780230379206_2
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DOI: https://doi.org/10.1057/9780230379206_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-40523-7
Online ISBN: 978-0-230-37920-6
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