Combatting Unemployment
Series: IZA Prize in Labor Economics;
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Product details:
- Publisher OUP Oxford
- Date of Publication 16 June 2016
- ISBN 9780198779933
- Binding Paperback
- No. of pages268 pages
- Size 215x140x15 mm
- Weight 336 g
- Language English
- Illustrations 32 Figures, 48 Tables 0
Categories
Short description:
Shaping the views of scholars and policymakers on how to address unemployment, the contributions of Layard and Nickell have served to illuminate the policy discourse in Europe. The book includes their key writings on the subject together with a new essay on what should be done during recession.
MoreLong description:
Why is unemployment higher in some countries than others? Why does it fluctuate between decades? Why are some people at greater risk than others?
Layard and Nickell have worked on these issues for thirty years. Their famous model, first published in 1986, is now used throughout the world. It asserts that unemployment must be high enough to reduce the real wages for which workers settle to the level justified by productivity. So what affects 'wage push'? The authors showed early on that the key factors affecting 'wage push' are how unemployed workers are treated and how wages are negotiated. If unemployed people get benefits without being required to accept jobs, vacancies go unfilled and mass unemployment results. The solution is welfare-to-work policies like those now introduced in most parts of the world.
The authors have proposed these policies for the last twenty-five years in a series of key articles reproduced in this book. Their original analysis explains the subsequent movement of unemployment over the last two decades. They conclude the book with a new chapter on what should be done in the recession: no-one, they say, should be given unemployment benefit beyond a year, after which they should be offered work.
should be on the reading list of all serious students of economics
Table of Contents:
Introduction by the Editors: A New Understanding of Labor Market Institutions- Layard and Nickell on Labor Economics and Policy Making
The Labor Market
Why Does Unemployment Persist?
Combatting Unemployment: Is Flexibility Enough?
Labor Market Institutions and Economic Performance
Unemployment: Macroeconomic Performance and the Labor Market
Policies For Full Employment
A Final Note: Unemployment and the Current Recession
