Capital Accumulation and Unemployment: A Tale of Two “Continents”

Jim Malley and Thomas Moutos

Scandinavian Journal of Economics, 2001, vol. 103, issue 1, 79-99

Abstract: In contrast to much recent work regarding the causes of European unemployment, in this paper we emphasize the importance of capital accumulation. But unlike the few previous studies which have examined the relationship between capital accumulation and unemployment, we argue that what matters for the evolution of employment (and the unemployment rate) is not the absolute growth rate of a country's capital stock, but its evolution relative to other countries' capital stock. The empirical validity of the above statement is demonstrated for almost all OECD countries using quarterly time‐series data for the period 1961–1995. More detailed evidence is also presented for Germany, Japan and the United Kingdom.

Date: 2001
References: Add references at CitEc
Citations: View citations in EconPapers (31)

Downloads: (external link)
https://doi.org/10.1111/1467-9442.00231

Related works:
Working Paper: Capital Accumulation and Unemployment: A Tale of Two "Continents" (2000)
Working Paper: Capital Accumulation and Unemployment: A Tale of Two 'Continents'
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:scandj:v:103:y:2001:i:1:p:79-99

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0347-0520

Access Statistics for this article

Scandinavian Journal of Economics is currently edited by Richard Friberg, Matti Liski and Kjetil Storesletten

More articles in Scandinavian Journal of Economics from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().