-reaction perspective, in which unemployment movements are viewed as the outcome of the interplay between labor market shocks and prolonged … permanent shocks (especially the rise in working-age population and the decline in capital formation), whereas the unemployment …This paper examines the movements in EU unemployment from two perspectives: (a) the NRU/NAIRU perspective, in which …

-side policies must have different aims, that a limited number of supply-side policies are to be devoted to fighting unemployment … prevailing orthodoxy also claims that the choice of policy instruments for combating unemployment is a political decision, in … a prompt reduction of unemployment. We are confident that if the advice is given proper attention by governments and …