Perspectives on Regional Unemployment in Europe

By Antonio Spilimbergo, Eswar S Prasad, Paolo Mauro

May 17, 1999

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Format: Chicago

Antonio Spilimbergo, Eswar S Prasad, and Paolo Mauro. Perspectives on Regional Unemployment in Europe, (USA: International Monetary Fund, 1999) accessed November 21, 2024

Summary

The third stage of European Economic and Monetary Union (EMU) was implemented in January 1999 against the specter of persistently high unemployment in many of the participating countries. While the high European unemployment has received considerable attention, this new IMF staff study analyzes an equally important issue: the extent of regional unemployment disparities in certain countries. The paper focuses on large and persistent differences in regional unemployment rates within several European countries. The paper includes detailed case studies of two euro area countries where regional disparities in unemployment are striking- Italy and Spain. The studies emphasize that wages are unresponsive to local labor market conditions.

Subject: Employment, Labor, Labor markets, Unemployment, Unemployment rate, Wages

Keywords: Adjustment mechanism, Employment, Europe, Labor market rigidity, Labor markets, OP, Unemployment, Unemployment difference, Unemployment imbalance, Unemployment rate, Wage, Wage-bargaining system, Wages, Worker

Publication Details

Pages:

50
Volume:

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DOI:

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Issue:

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Series:

Occasional Paper No. 1999/004
Stock No:

S177EA0000000
ISBN:

9781557758002
ISSN:

0251-6365

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