A Review of Richard Layard, Stephen Nickell, and Richard Jackman's Unemployment: Macroeconomic Performance and the Labour Market

Author: Blanchard, Olivier

Source: Journal of Economic Literature, Volume 45, Number 2, June 2007 , pp. 410-418(9)

Publisher: American Economic Association

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Abstract:

Unemployment: Macroeconomic Performance and the Labour Market by Richard Layard, Stephen Nickell, and Richard Jackman (Oxford University Press 2005) is the second edition of a book first published in 1991. The second edition is identical to the first except for a long introduction, which reviews the conclusions of the first edition in the light of the following fifteen years. I basically agree with the authors that the book's framework and conclusions have withstood the test of time very well. I then assess progress since 1991 and point to a number of directions in which progress needs to be achieved.

Document Type: Research article

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