Persistent unemployment is the top social and economic problem of most EU countries. Today, the unemployment rate in most EU countries is above ten percent and, although unemployment has decreased during expansions, the average EU unemployment rate within each cycle has increased since the early...

In this paper we analyse the likely effects of Economic and Monetary Union (EMU) on European unemployment. We start by describing the current unemployment situation in the European Union (EU). In so doing, we try to assess the relative importance of European, national and regional shocks in...