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Is Capital Stock a Determinant of Unemployment?

In: Wages, Employment, Distribution and Growth

Author

Listed:
  • Philip Arestis
  • Michelle Baddeley
  • Malcolm Sawyer

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.

Suggested Citation

  • Philip Arestis & Michelle Baddeley & Malcolm Sawyer, 2006. "Is Capital Stock a Determinant of Unemployment?," Palgrave Macmillan Books, in: Eckhard Hein & Arne Heise & Achim Truger (ed.), Wages, Employment, Distribution and Growth, chapter 3, pages 49-66, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37178-1_4
    DOI: 10.1057/9780230371781_4
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    Citations

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    Cited by:

    1. Eckhard Hein & Engelbert Stockhammer, 2010. "Macroeconomic Policy Mix, Employment and Inflation in a Post-Keynesian Alternative to the New Consensus Model," Review of Political Economy, Taylor & Francis Journals, vol. 22(3), pages 317-354.
    2. Eckhard Hein & Till van Treeck, 2007. "'Financialisation' in Kaleckian/Post-Kaleckian models of distribution and growth," IMK Working Paper 07-2007, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    3. Eckhard Hein, 2010. "Shareholder Value Orientation, Distribution And Growth—Short‐ And Medium‐Run Effects In A Kaleckian Model," Metroeconomica, Wiley Blackwell, vol. 61(2), pages 302-332, May.
    4. Eckhard Hein, 2009. "A (Post-) Keynesian perspective on "financialisation"," IMK Studies 01-2009, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.

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