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On the links between unemployment rate, monetary creation and the value-added sharing

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  • Mussard, Stéphane
  • Philippe, Bernard

Abstract

In this paper, we investigate the analytical links between the rate of unemployment, monetary creation and how individuals share the value added in an economy with three types of agents: capital owners, managers and employees. This relationship relies on the fact that the rate of unemployment depends on many macroeconomic characteristics such as: creation of money, external balance of goods and services and mark-up pricing. The latter being decomposed into the expected margin rate and the growth rate of the unitary wage cost that characterize the primary value-added sharing.

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Bibliographic Info

Article provided by Elsevier in its journal Economic Modelling.

Volume (Year): 28 (2011)
Issue (Month): 3 (May)
Pages: 767-774

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Handle: RePEc:eee:ecmode:v:28:y:2011:i:3:p:767-774

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Web page: http://www.elsevier.com/locate/inca/30411

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Keywords: Hicks Keynes Mark-up pricing Unemployment rate Value added;

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  1. Mussard, Stéphane & Philippe, Bernard, 2009. "Okun's law, creation of money and the decomposition of the rate of unemployment," Economics Letters, Elsevier, vol. 102(1), pages 7-9, January.
  2. Stéphane Mussard & Bernard Philippe, 2010. "Déséquilibres, système bancaire et chômage involontaire," Working Papers 10-12, LAMETA, Universtiy of Montpellier, revised Oct 2010.
  3. Marc Lavoie, 2006. "Do Heterodox Theories Have Anything in Common? A Post-Keynesian Point of View," European Journal of Economics and Economic Policies: Intervention, Edward Elgar, vol. 3(1), pages 87–1.
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