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CONTENTS

 Preface

1 Introduction

Part I Which macroeconomic policy is most effective to reduce unemployment in the short run?

2 Unemployment in a small macroeconomic disequilibrium model

Part II Why did unemployment hit low-skilled labour so much harder?

3 Structural changes in the demand for labour

Part III What explains persistent unemployment?

4 Equilibrium unemployment in a small theoretical model
5 Exports
6 Imports
7 Consumption
8 Wages, prices and factor demand
9 The equilibrium unemployment rate in a small econometric model

References
Name Index
Nederlandstalige samenvatting; Summary in Dutch