This broad survey of unemployment will be a major source of reference for both scholars and students. It aims to provide a basis for better policy: showing how the lessons learned from experience and theory can be applied to greatly reduce the waste and misery of high unemployment. The book surveys in a clear, concise manner the main aspects of the unemployment problem. It integrates macroeconomics with a detailed micro-analysis of the labour market. It uses the authors' model to explain the puzzling post-war history of OECD unemployment and shows how unemployment and inflation are affected by systems of wage bargaining and unemployment insurance. For each issue the authors' develop a relevant theory, followed by extensive empirical analysis. The authors are established experts in the field, and this book gives their definitive treatment. Now revised to include an analysis of unemployment changes since 1991, it is clear the authors' original model has stood the test of time making this book a must read for any student studying economics at an advanced level.

This broad survey of unemployment is a benchmark summary of the authors position which became hugely influential. This second edition brings the analysis up to date by relating it to recent empirical developments. This book is a major source of reference for both scholars and students.

In this broad survey of the subject of unemployment, the authors consider a number of key issues, such as why unemployment is so high and why it fluctuates so wildly; how unemployment affects inflation; and whether full employment can ever be combined with price stability. This book provides answers and explains the puzzling postwar history of the OECD countries. It integrates macroeconomics with a detailed micro-analysis of the labour market and shows how unemployment and inflation are affected by systems wage bargaining and unemployment insurance. For each issue it develops new relevant theory, followed by extensive empirical analysis, drawing on material from both Europe and America. The authors are leading world experts on the subject, and the book gives their definitive treatment. It is based largely on new research, but also incorporates the best of existing knowledge of economics. The rest of the book provides key elements for courses in macroeconomics and labour economics at advanced undergraduate levels. The basic aim of the book, however, is to provide the basis for better policy. As the book shows by learning from theory and experience we can greatly reduce the waste and