| Summary: | Seeks to explain long-term shifts in the level of unemployment, why unemployment within countries has been higher in some decades than in others, why certain countries have had higher unemployment than others, and why in some countries unemployment has remained high for very long periods. May be used as a textbook. A new introduction assesses whether other studies have confirmed or disproved key features of the analysis. Presents the microfoundations for understanding unemployment, discussing wage-bargaining and unions; efficiency wages; evidence on wage behavior; job search and the duration of unemployment; mismatch and the structure of unemployment; and the pricing and employment behavior of firms. Analyzes the macroeconomics of unemployment and seeks to explain postwar unemployment across OECD countries. Considers policies to cut unemployment. Includes chapter discussion questions. Layard, Nickell, and Jackman are at the London School of Economics. Name and subject indexes.
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