Journal of Economic Literature
ISSN 0022-0515 (Print) | ISSN 2328-8175 (Online)
A Review of Richard Layard, Stephen Nickell, and Richard Jackman's Unemployment: Macroeconomic Performance and the Labour Market
Journal of Economic Literature
vol. 45,
no. 2, June 2007
(pp. 410–418)
Abstract
Unemployment: Macroeconomic Performance and the Labour Market by Richard Layard, Stephen Nickell, and Richard Jackman (Oxford University Press 2005) is the second edition of a book first published in 1991. The second edition is identical to the first except for a long introduction, which reviews the conclusions of the first edition in the light of the following fifteen years. I basically agree with the authors that the book's framework and conclusions have withstood the test of time very well. I then assess progress since 1991 and point to a number of directions in which progress needs to be achieved.Citation
Blanchard, Olivier. 2007. "A Review of Richard Layard, Stephen Nickell, and Richard Jackman's Unemployment: Macroeconomic Performance and the Labour Market." Journal of Economic Literature, 45 (2): 410–418. DOI: 10.1257/jel.45.2.410JEL Classification
- E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital
- J24 Human Capital; Skills; Occupational Choice; Labor Productivity
- J31 Wage Level and Structure; Wage Differentials
- J52 Dispute Resolution: Strikes, Arbitration, and Mediation; Collective Bargaining