Is Capital Stock a Determinant of Unemployment?
Philip Arestis Arestis,
Michelle Baddeley and
Malcolm Sawyer ()
Chapter 3 in Wages, Employment, Distribution and Growth, 2006, pp 49-66 from Palgrave Macmillan
Abstract This chapter seeks further to examine the proposition that the size of the capital stock is an important variable in the determination of the rate of unemployment. The argument is along the lines of recent contributions that are able to confirm the hypothesis that capital stock affects the non-accelerating inflation rate of unemployment (NAIRU) (see, for example, Arestis and Biefang-Frisancho Mariscal 1997, 1998, 2000), but here we focus on EMU countries in our empirical estimations.
Keywords: Capital Stock; Real Wage; Employment Protection; Labour Market Institution; Wage Share (search for similar items in EconPapers)
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