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Unemployment (Structural (mismatch between workers' skills and job…
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Policies
Supply side policies
Retraining (occupational immobility) e.g. CET, WDA,ITE, SDF, SPUR
Protectionism
(same as cyclical unemployment)：protect the country from foreign competitors to enable survival of domestic firms
Polices
Supply side policy
focus on improving labour market information to increase efficiency in labour market (e.g. job fairs that the CDC organised regularly)
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Retaliation, efficiency in domestic markets
Size of K, proportion of domestic demand to AD, crowding out due to high fiscal debt, time lag, limitations of tax cuts, relative inflexibility
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Responsiveness of C&I to changes in i/r, unwillingness of commercial banks to lend
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Effectiveness depends on attitude, aptitude and age of workers who are sent for the courses + ageing population in SG
inefficient allocation of resources (at expense of the welfare of consumers and the society), retaliatory actions + possible fall in world trade
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effectiveness depends on attitude of job seekers + having more choices to choose from may lengthen job searching proces
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