Opening product markets up to competition has helped to reduce unemployment in many European countries, according to new research from the Institute for Fiscal Studies.
The study by Rachel Griffith, Rupert Harrison and Gareth Macartney, which was presented at the Royal Economic Society's 2006 Annual Conference at the University of Nottingham, also finds that increased competition has raised workers' real wages. But in this case, the effect is smaller in highly unionised countries.
Authors
Rachel Griffith
Rachel is Research Director and Professor at the University of Manchester. She was made a Dame for services to economic policy and education in 2021.
Gareth Macartney
Rupert Harrison
More from IFS
Understand this issue
Policy analysis
Academic research
