Researchers find evidence of ‘European unemployment cycle’
Continent and country-level factors most influential drivers of unemployment fluctuations
A working paper published today by The Netherlands Bank separates the European, country and region-specific factors driving changes in unemployment levels across the continent over the past three decades.
In From progress to nightmare: European regional unemployment over time, Robert Beyer and Michael Stemmer find European fluctuations account for "roughly two fifths" of the total variance. This they, say, confirms the existence of a "European unemployment cycle".
"Equally important" are country
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