The paper surveys unemployment policies for advanced market economies and evaluates them by examining the predictions … of the underlying macroeconomic theories. The basic idea is that, for the most part, different unemployment policy …--on the theories` ability to predict some salient stylized facts about unemployment behavior. The paper considers four types …

This paper provides a critique of the "unemployment invariance hypothesis," according to which the behavior of the … labor market ensures that the long-run unemployment rate is independent of the size of the capital stock, productivity, and … the equilibrating mechanisms to ensure unemployment invariance; in particular, other markets may perform part of the …

rationale for a prolonged inverse relation between inflation and unemployment. The paper suggests that the interaction of … inflation persistence and unemployment persistence may offer a possible explanation of high and prolonged European unemployment …

, and unemployment arising from the decline of the tradeable sector. …