The European Unemployment Dilemma
用一般均衡搜索模型解释欧洲二战后低失业、1980年代以来高失业的原因，认为福利国家应对经济转型（如制造业转服务业、新技术、全球化）的能力下降是主因。
Post‐World War II European welfare states experienced several decades of relatively low unemployment, followed by a plague of persistently high unemployment since the 1980s. We impute the higher unemployment to welfare states' diminished ability to cope with more turbulent economic times, such as the ongoing restructuring from manufacturing to the service industry, adoption of new information technologies, and a rapidly changing international economy. We use a general equilibrium search model in which workers accumulate skills on the job and lose skills during unemployment.