High unemployment rates in the period of an internationalization of economies and an intensified technological competition are the main problems that exist in most EU countries. Taking stock of unemployment patterns, technological trends and employment opportunities in the EU and the US is...

The neoclassical growth model assumes fixed labor supply and competitive labor markets. Is it harmless to ignore monopsonistic power in the neoclassical growth model? The paper argues that it is not, especially if a growth model needs to be consistent with the long-run dynamics of the labor...