The Rise of Unemployment since the 1950s
Demographic explanations of the rise in unemployment in the United States since the 1950s have had little success (Summers, 1986). Greater female labour force participation has had no noticeable effect, and there are now relatively fewer unemployment-prone teenagers than in 1965. Surprisingly, unemployment has gone up despite a higher general level of education.
KeywordsInterest Rate Unemployment Rate Real Wage Real Interest Rate Capital Good
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