Unemployment: Macroeconomic Performance and the Labour Market

by Richard Layard, Stephen Nickell, Richard dackman

Overview

Written by leading experts in the field, this book provides a broad survey of unemployment. Explaining what has happened to employment levels in the industrialized countries in the 1970s and 1980s, the authors discuss why unemployment is so high and why it has fluctuated so wildly, how unemployment affects inflation, and whether full employment can ever be combined with price stability. For each issue it develops a relevant theory, followed by extensive empirical analysis, drawing on material from both Europe and America.

Product Details

ISBN-13:	9780198284345
Publisher:	Oxford University Press
Publication date:	12/05/1991
Edition description:	Older Edition
Pages:	634
Product dimensions:	6.13(w) x 9.19(h) x 1.09(d)

About the Author

Richard Layard is Emeritus Professor of Economics and Co-Director of the Centre for Economic Performance at the London School of Economics.
Stephen Nickell is Professor of Economics at the London School of Economics. Richard Jackman is Professor of Economics at the London School of Economics.

Table of Contents

Introduction to New EditionPreface to First Edition1. OverviewThe Microfoundations2. Wage-Bargaining and Unions3. Efficiency Wages4. Wage Behaviour: the Evidence5. Job Search: the Duration of Unemployment6. Mismatch: the Structure of Unemployment7. The Pricing and Employment Behaviour of FirmsThe Macroeconomic Outcome8. The Macroeconomics of Unemployment9. Explaining Post-war Unemployment in OECD CountriesPolicy Implications10. Policies to Cut UnemploymentAnnexesDiscussion QuestionsReferences

Editorial Reviews

"The authors are experts in this field, and the book will be a major reference for scholars and students. Highly recommended for graduate and upper-divison undergraduate collections."—Choice

"The book is the most thorough and single-minded economic study of unemployment done in many years....What is most impressive...is the interweaving of data and theory. Layard and Nickell use great skill and imagination to construct an eclectic theory firmly based on sharp empirical observations and microeconomic foundations. It is an important contribution to modern labor economics."—Sherwin Rosen, University of Chicago

"Convincingly refutes the idea that countries have no choice but to live with high unemployment."—The Economist

"Should be the starting point for any sensible discussion on the subject from now on."—The Australian

From the Publisher