The Labour Market

Abstract

The four papers which follow were written for a conference organised by the National Institute on 24 February. The papers draw on some of the major developments in macroeconomic research and policy appraisal at the Institute over the last two or three years. Particular emphasis is placed on the formation of expectations, on the behaviour of the exchange rate and on the labour market. The implications of this new work for our understand ing of fiscal expansion as a means of reducing unemployment are brought together in the final paper. The authors are all involved as researchers or consultants on the Institute's programme of macroeconomic modelbuilding and analysis, financed by the ESRC Consortium. They draw on the work of other members of staff, but responsibility for the papers rests with the authors individually and not with the editorial board. Appendix tables and references for all four papers are collected together at the end.