Karanassou, Marika (contributor); Sala, Hector (contributor) - 2008
as the ‘EU cycle’, and
the last one as the ‘EMU cycle’.
Figure 1. Unemployment rate
0
4
8
12
16
20
24
1970 1975 1980 1985 … 1990 1995 2000 2005
%
"long
recession"
"EU cycle"
"EMU cycle"
The consensus view is that a combination of labour unfriendly … integration process, and the specific macroeconomic features across
business cycles that have accompanied the rise and fall of the …