. Results are presented for the U. S., Japan, and an aggregate called "Europe" consisting of eleven European economies. The … primary theme of the paper is that differences between Europe and the U. S. have been substantially exaggerated in recent work …. Europe has neither greater nominal wage flexibility nor more rigid real wages than the U. S. Evidence that the U. S. exhibits …

contemporary labor issues in North America and Europe, from reserve rules and free agency, high levels of player pay and work …

predictions of our simple model are consistent with the contrasting performance of the labor market in Europe and US in terms of … the economy with unemployment insurance (Europe). As a result, unemployment doubles in this economy. In the laissez …

the unskilled. By contrast, in Europe it is undoubtedly the rise and persistence of unemployment. Technology has been …