This conference volume addresses the persistent issue of high unemployment in major European economies since the early nineties. Unlike the current German discourse, which focuses primarily on microeconomic factors, this collection features diverse macroeconomic perspectives that explore various solutions to the employment crisis. Contributions from esteemed German and international economists, gathered at the 1998 Berlin symposium, emphasize learning from global experiences. The first chapter outlines standard textbook models explaining enduring high unemployment. The second chapter examines whether macroeconomic policies can effectively combat unemployment on a national level amidst global market dynamics. The third chapter discusses how misalignments in financial markets can impact economic growth and employment. Subsequent contributions highlight successful strategies from other countries that have recently reduced their unemployment rates, questioning their applicability to Germany. The concluding chapter explores practical macroeconomic approaches for sustainable employment growth in Europe, challenging the supply-side arguments prevalent in German discussions. It emphasizes the interconnectedness of monetary and fiscal policies with wage policy, and argues that a theoretical macroeconomic framework for sustainable employment is unlikely to succeed without enhanced international cooperation in global markets.
