The Impact of Microeconomic Policies on European Unemployment

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Economics (CMC)

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Today's unemployment levels in Europe are quite unprecedented by post-war standards. For many years, the industrialized countries of Europe faced quiet the opposite problem: a labor shortage that precipitated the inflow of vast numbers of "guest workers" from the Mediterranean area and from the Middle East. In some countries, such as Germany, unemployment levels half as large as today's would have provided major political upheavals during that era. Yet today, they stimulate a lively debate on causes and cures but little else.

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© 1989 Springer

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