Employment and asset prices

Gylfi Zoega

Applied Economics, 2012, vol. 44, issue 26, 3343-3355

Abstract: A medium-term relationship exists between share prices, normalized by labour productivity, and the rate of unemployment in the Organization for Economic Co-operation and Development (OECD) countries. This helps explain decadal changes in mean unemployment, such as the shift to higher mean unemployment in the Continental European countries in the 1970s and 1980s that coincided with a fall in the level of share prices, as well as differences in mean unemployment between countries.

Date: 2012
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Working Paper: Employment and Asset Prices (2009)
Working Paper: Employment and Asset Prices (2009)
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DOI: 10.1080/00036846.2011.572860

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