Alogoskoufis, George; Martin, Christopher - C.E.P.R. Discussion Papers - 1990
The persistently high rate of unemployment has probably been Western Europe's most important economic problem of the … 1970s and 1980s. Average unemployment rose relentlessly between the early seventies and the mid-eighties, in contrast to … the United States, where unemployment has displayed a normal cycle, around a slightly higher mean. This has led to a …