Can supply-side policies reduce unemployment? Lessons from North America
Gary Burtless considered lessons about maintaining a low rate of structural unemployment that can be learned from the North American experience. Cyclical unemployment rises and falls in inverse proportion to the level of aggregate demand in an economy, but cyclical kind of unemployment was not the focus of Burtless’s paper. Burtless examined the effects of “supply-side” policies, which he interpreted to include policies aimed at changing the skills of the workforce and the microeconomic...[Show more]
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