Why is Europe's employment rate almost 10 percent lower than that of the United States? This "jobs gap" has typically been blamed on the rigidity of European labor markets. But in Services and Employment, an international group of leading labor economists suggests quite a different explanation....

Frontmatter -- Vorwort -- Übersicht -- Inhalt -- Verzeichnis der Tabellen und Abbildungen -- Beschäftigungswirkungen moderner Technologien -- TEIL I. BETRIEBSEBENE -- Der Kontext entscheidet: Wirkungen des Einsatzes computergestützter Techniken in Industriebetrieben -- Diffusion neuer...

"Natural rate theory" - the application of the efficient market hypothesis to labour markets has guided economic policy since the 1970s and laid the foundations for the design of major European institutions in the 1990s. Unfettered markets were declared to be stable, and consequently public...

Natural rate theory has dominated interpretations of economic trends and policy prescriptions over many decades, as economists contrasted high unemployment and lower inequality in Europe with the great American job machine. This paper discusses the relationship between skill structure and wage...