The recent labour-market performance varies greatly between the United States and continental Europe on the one hand, and between the low- and high-skilled on the other. This book starts by presenting up-to-date empirical evidence on these stylised facts and on the importance of the intensity of...

Persistently high unemployment rates in Germany have led to a long-running controversy on the causes of the unemployment problem. This paper aims to re­view the contribution of Keynesian and monetarist theories to this controversy and explores empirically their implications for the explanation...