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Journal of Economic Literature: Vol. 45 No. 2 (June 2007)
JEL Volume. 45, Issue 2 | 
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JEL Indexes (Members Only)A Review of Richard Layard, Stephen Nickell, and Richard Jackman's Unemployment: Macroeconomic Performance and the Labour Market
Article Citation
Blanchard, Olivier. 2007. "A Review of Richard Layard, Stephen Nickell, and Richard Jackman's Unemployment: Macroeconomic Performance and the Labour Market."
Journal of Economic Literature,
45(2): 410-418.
DOI: 10.1257/jel.45.2.410
DOI: 10.1257/jel.45.2.410
Abstract
Unemployment: Macroeconomic Performance and the Labour Market by Richard Layard, Stephen Nickell, and Richard Jackman (Oxford University Press 2005) is the second edition of a book first published in 1991. The second edition is identical to the
first except for a long introduction, which reviews the conclusions of the first edition in the light of the following fifteen years. I basically agree with the authors that the book's framework and conclusions have withstood the test of time very well. I then assess progress since 1991 and point to a number of directions in which progress needs to be achieved.
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Blanchard, Olivier
