Unemployment Macroeconomic Performance and the Labour Market [Paperback]

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.

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