“…The first line focuses on institutional issues and leads to policy‐oriented models (Gordon, 1995; Cahuc and Michel, 1996; Van Schaik and De Groot, 1998; Daveri and Tabellini, 2000;Peretto, 2000 among others). The second line focuses on technical change and addresses the issue of growth and unemployment at either micro or macro level (Aghion and Howitt, 1994; Mortensen and Pissarides, 1995; Acemoglu, 1997; Cerisier and Postel‐Vinay, 1998; Postel‐Vinay, 1998; Mortensen, 2005). In both cases though, no clear prediction about how growth affects unemployment is reached.…”