Access the full text.
Sign up today, get DeepDyve free for 14 days.
D.T. Mortensen
Job search and labour market analysis
Laurence Ball (1999)
Aggregate demand and Long-Run Unemployment, 30
O. Blanchard, L. Summers (1986)
Hysteresis in Unemployment
H. Botwinick
Persistent Inequalities: Wage Disparity under Capitalism
M. Baimbridge, B. Burkitt, P.A. Whyman
A post‐Keynesian strategy for an independent UK economy
R. Rowthorn (1999)
Unemployment, wage bargaining and capital-labour substitutionCambridge Journal of Economics, 23
Aditya Bhattacharjea (1987)
Keynes and the Long-Period Theory of Employment: A NoteCambridge Journal of Economics, 11
László Csaba (1987)
East-west trade and finance in the world economy. A new look for the 1980's : , ed., New York: St. Martin's Press, 1985. ix + 338 pp., index. $32.50Journal of Comparative Economics, 11
Engelbert Stockhammer (2004)
Explaining European Unemployment: Testing the NAIRU Hypothesis and a Keynesian ApproachInternational Review of Applied Economics, 18
D. Baker, A. Glyn, D. Jowell, J. Schmitt
Labor market institutions and unemployment: a critical assessment of the cross‐country evidence
K. Miller, M. Steele (1993)
Employment legislation: Thatcher and afterIndustrial Relations Journal, 24
A. Kleinknecht, C. Naastepad (2007)
Flexible Labour Markets and Labour Productivity Growth: Is There a Trade-off?
J. Grahl
After Maastricht
P. Layard, S. Nickell, R. Jackman (1994)
The Unemployment Crisis
C. Pissarides (1985)
Short-run Equilibrium Dynamics of Unemployment Vacancies, and Real WagesThe American Economic Review, 75
IMF
Chroni unemployment in the Euro area
M. Sawyer (1997)
The NAIRU: A Critical AppraisalSocial Science Research Network
J. Grieve‐Smith
Policies to reduce European unemployment
K. Marx
Capital I
W. Godley, A. Shaikh (2002)
An Important Inconsistency at the Heart of the Standard Macroeconomic ModelJournal of Post Keynesian Economics, 24
D. Snower, B. Henry, Marika Karanassou (1999)
Adjustment Dynamics and the Natural Rate: An Account of UK UnemploymentMacroeconomics eJournal
P. Arestis, I. Mariscal (1998)
Capital Shortages and Asymmetries in UK Unemployment
D. Mortensen (1986)
Chapter 15 Job search and labor market analysisHandbook of Labor Economics, 2
H. Siebert (1997)
Labor Market Rigidities: At the Root of Unemployment in EuropeJournal of Economic Perspectives, 11
C. Shapiro, J. Stiglitz (1984)
Equilibrium Unemployment as a Worker Discipline DeviceThe American Economic Review, 74
D. Howell (2004)
Fighting Unemployment: The Limits of Free Market Orthodoxy
P. Krugman (1994)
Past and prospective causes of high unemploymentEconometric Reviews, 79
(2003)
DISCUSSION PAPER SERIES LABOR MARKET INSTITUTIONS AND UNEMPLOYMENT : A CRITICAL ASSESSMENT OF THE CROSS-COUNTRY EVIDENCE
Purpose – Unemployment is a systemic element of economic development which need not and “normally” does not give rise to full employment of labour regardless of the flexibility in labour markets. This paper aims to address these issues. Design/methodology/approach – The paper presents the common arguments and policy proposals to unemployment put forward by mainstream and Keynesian economics and it continues by exploring the dynamics of economic development and its effects on employment. Findings – The normal utilization of the capital stock is not necessarily associated with any specific level of employment. As a result, even high levels of unemployment may be consistent with the normal (full) employment of capital, and the degree of flexibility in the labour market cannot affect the above result in any significant way. Practical implications – The dynamics of capital accumulation continually tend to reproduce a stream of displaced workers. Moreover, the liberalization of the labour market in the effort to increase labour flexibility have contributed to the polarization of income distribution and increased the poverty rate. Originality/value – The acknowledgment that the normal functioning of capitalism is consistent with a rising unemployment rate may provide policy makers with a solid analytical ground upon which more realistic and viable employment policies can be proposed in the effort on the one hand to reduce unemployment and on the other hand to alleviate its adverse effects on the unemployed and on social cohesion.
International Journal of Social Economics – Emerald Publishing
Published: Jun 5, 2009
Keywords: Economic development; Unemployment; Economic planning; Keynesian economics
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.