Report of the CEPS Macroeconomic Policy Group: Employment and Growth in Europe : a Two-handed Approach : Internal Paper
Directorate-General for Economic and Financial Affairs, Commission of the European Communities, 1985 - Europe - 43 pages
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Why is employment so low?
The mediumterm outlook
1 other sections not shown
aggregate demand Annual Economic Report assets and inflation Blanchard capacity utilization capital accumulation capital constraint capital deepening capital stock CC locus CEPS Macroeconomic Policy coefficients of variation Commission cyclical adjustment decumulation deficits demand expansion dollar Dornbusch EEC Countries effect employment problem estimation Europe European Communities European employment factor prices firms fiscal consolidation fiscal policy full employment Germany higher hiring IMF Staff Papers increase in unemployment industry inflation induced distortions labour cost problem labour demand labour market labour productivity Layard lead long-term unemployed low capital Macroeconomic Policy Group measures monopolistic competition OECD output and employment output growth perfect competition period productivity growth programmes rate of growth rate of unemployment real wage problem relative role sector shift simply Source steady employment growth Steinherr strategy substantial supply shocks sustainable rate Table Two-Handed Approach unemployment rate United Kingdom Unsustainable Growth wage dispersion wage flexibility wage gaps work-sharing workers