Institutional requirements for full employment in advanced economies

Abstract In the 1980s, fifty years after the Great Depression industrial countries came again to be haunted with the spectre of mass unemployment. The unemployment situation, into the 1990s, continues to be dire in several European Union countries. Double digit unemployment rates are currently being recorded by Belgium, Denmark, France, Italy, with near double-digit rates in several others including Britain, Germany and Sweden. On the most recent available official data, nearly a quarter of the labour force in Spain and Finland are unemployed