"The insider-outsider theory is one of the approaches with which the persistence of unemployment can be accounted for. The central hypothesis says that the insiders, in other words the 'job holders', drive the wage level above the market-clearing level, thus creating a barrier that prevents new...

"Aus der Konjunkturkrise 1974/75 haben sich inzwischen Strukturdiskrepanzen zwischen Angebot und Nachfrage entwickelt. Die langjährige Investitionsschwäche hat zu einer Erstarrung der Angebotsstrukturen geführt. Die potentiellen Nachfragestrukturen haben sich demgegenüber weiter gewandelt....

The insider-outsider theory is one of the approaches with which the persistence of unemployment can be accounted for. The central hypothesis says that the insiders, in other words the 'job holders', drive the wage level above the market-clearing level, thus creating a barrier that prevents new...