Unemployment: An International Perspective

Lowell Gallaway and Richard Vedder

Journal of Labor Research, 2000, vol. 21, issue 3, 503-508

Abstract: Using standard OECD unemployment and national income account data, the relationship between unemployment rates and the productivity-adjusted real wage rate is examined for six major countries, Australia, Canada, France, Germany, Japan, and the United Kingdom, using bivariate regression analysis. In addition, pooled crosssection estimates of the same relationship are provided for the 24 traditional OECD countries covering the period 1971-1995. The object is to determine whether the observed statistically significant positive relationship between these variables found for the United States exists in other economies. The basic conclusion is that the international experience in this regard is similar to that for the United States.

Date: 2000
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