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What is Causes of Persistent High Unemployment about?

The document discusses reasons for persistent high unemployment. It argues that while inflation has been controlled, unemployment remains high, especially in Europe. Several labor market imperfections are identified that can cause unemployment to remain above equilibrium levels for extended periods, including sticky real wages, insider/outsider models, government restrictions like minimum wages, the wedge between private and social costs of labor, and barriers to firing workers. Reversing high unemployment

Author

Hisham Jawhar

Language

EN