Is There a Trade-off between Unemployment and Inequality?
نویسنده
چکیده
Over the last two decades virtually every western European nation has faced high and persistent unemployment. In frustration, many European nations have looked to the United States, with its lower unemployment rates, as a model of labor market flexibility. The U.S. model has become less attractive, however, as analysts have come to recognize the extent of rising wage inequality in the United States over the same period, including sharp declines in wages among the less skilled. In short, both Europe and the United States have faced serious labor market problems in recent years.
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