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Stock Prices and Employment

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  • H. Sonmez Atesoglu

Abstract

In this article, effects of stock price developments on employment are examined. For this purpose, the reduced-form equation of the Keynes-Weintraub-Davidson model for employment is augmented with stock prices. Estimation of the reduced-form equation, employing cointegration methodology and quarterly data for the 1991: 1–2000:4 period, reveals that while stock prices have a positive effect on employment, this effect is marginal compared to that of autonomous expenditures in wage units in determining the path of employment.

Suggested Citation

  • H. Sonmez Atesoglu, 2002. "Stock Prices and Employment," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 24(3), pages 493-498, March.
    • Handle: RePEc:mes:postke:v:24:y:2002:i:3:p:493-498
    DOI: 10.1080/01603477.2002.11490338
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    Cited by:

    1. Peter Hans Matthews, 2005. "Paradise lost and found? The econometric contributions of Clive W. J. Granger and Robert F. Engle," Review of Political Economy, Taylor & Francis Journals, vol. 17(1), pages 1-28.
    2. Kamran Khan & Israr Ahmed, 2015. "Impact of Stock Prices on Macroeconomic Variables: Evidence from Pakistan," KASBIT Business Journals (KBJ), Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 8(1), pages 42-59, May.

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