Unemployment and Hours of Work: The North Atlantic Divide Revisited.” Prepared for the Venice

I examine the dynamic evolutions of unemployment, hours of work and the service share since the war in the United States and Europe. The theoretical model brings together all three and emphasizes techno-logical growth. Computations show that the very low unemployment in Europe in the 1960s was due t...

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Bibliographic Details
Main Author: Christopher A Pissarides
Other Authors: The Pennsylvania State University CiteSeerX Archives
Format: Text
Language:English
Published: 2006
Subjects:
unemployment
hours of work
service employment
structural change
labor productivity taxation JEL classification
E24
J21
J22
J64
O14
North Atlantic
Online Access:http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.538.4809
http://personal.lse.ac.uk/pissarid/papers/Pissarides Klein.pdf
Description
Summary:I examine the dynamic evolutions of unemployment, hours of work and the service share since the war in the United States and Europe. The theoretical model brings together all three and emphasizes techno-logical growth. Computations show that the very low unemployment in Europe in the 1960s was due to the high productivity growth as-sociated with technological catch-up. Productivity also played a role in the dynamics of hours but a full explanation for the fast rise of service employment and the big fall in aggregate hours needs further research. Taxation has played a role but results are mixed.

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