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Unemployment: macroeconomic performance and the labour market

Richard Layard, Stephen Nickell, Richard Jackman
Oxford University Press (January 2005)

This broad survey of unemployment will be a major source of reference for both scholars and students. It aims to provide a basis for better policy: showing how the lessons learned from experience and theory can be applied to greatly reduce the waste and misery of high unemployment. 

The book surveys in a clear, concise manner the main aspects of the unemployment problem. It integrates macroeconomics with a detailed micro-unemployment problem. It uses the authors' model to explain the puzzling post-war history of OECD unemployment and shows how unemployment and inflation are affected by systems of wage bargaining and unemployment insurance. For each issue the authors' develop a relevant theory, followed by extensive empirical analysis. 

The authors are established experts in the field, and this book gives their definitive treatment. Now revised to include an analysis of unemployment changes since 1991, it is clear the authors' original model has stood the test of time, making this book a must read for any student following economics at an advanced level.