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Federal Reserve Bank of Chicago
Economic Perspectives
A supply-side explanation of European unemployment
Lars Ljungqvist
Thomas J. Sargent

This article offers a supply-side explanation of striking patterns in unemployment rates and duration of unemployment in European countries, compared with other member countries of the OECD (Organization for Economic Cooperation and Development). The rise in long-term unemployment in Europe is attributed to the adverse incentive effects of generous welfare programs in times of economic turbulence.

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Lars Ljungqvist & Thomas J. Sargent, "A supply-side explanation of European unemployment" , Federal Reserve Bank of Chicago, Economic Perspectives, issue Sep, pages 2-15, 1996.
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Keywords: Unemployment - Europe
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