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Higher profits and lower capital prices: is factor allocation optimal?

Author

Listed:
  • E. Yndgaard
  • Palle S. Andersen
  • Marc Klau

Abstract

From an international perspective, the European rate of unemployment has been high and growing over the last one to two decades; against this background, the parallel rise in profit shares in a number of European countries seems to be at odds with expected economic behaviour.

Suggested Citation

  • E. Yndgaard & Palle S. Andersen & Marc Klau, 1999. "Higher profits and lower capital prices: is factor allocation optimal?," BIS Working Papers 65, Bank for International Settlements.
  • Handle: RePEc:bis:biswps:65
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    References listed on IDEAS

    as
    1. Lynn Elaine Browne & Rebecca Hellerstein, 1997. "Are we investing too little?," New England Economic Review, Federal Reserve Bank of Boston, issue Nov, pages 29-50.
    2. Milka Kirova & Robert E. Lipsey, 1997. "Does the United States invest "too little?"," Working Papers 1997-020, Federal Reserve Bank of St. Louis.
    3. Michael Bruno & Jeffrey D. Sachs, 1985. "Economics of Worldwide Stagflation," NBER Books, National Bureau of Economic Research, Inc, number brun85-1, June.
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    Cited by:

    1. Engelbert Stockhammer, 2004. "Explaining European Unemployment: Testing the NAIRU Hypothesis and a Keynesian Approach," International Review of Applied Economics, Taylor & Francis Journals, vol. 18(1), pages 1-26.
    2. Leo Kaas & Leopold von Thadden, 2003. "Unemployment, Factor Substitution and Capital Formation," German Economic Review, Verein für Socialpolitik, vol. 4, pages 475-495, November.
    3. Engelbert Stockhammer, 2004. "Is there an equilibrium rate of unemployment in the long run?," Review of Political Economy, Taylor & Francis Journals, vol. 16(1), pages 59-77.
    4. Kazumasa Iwata, 2010. "Luncheon speech at the BIS Conference in Honour of Palle S Andersen," BIS Papers chapters,in: Bank for International Settlements (ed.), Globalisation, labour markets and international adjustment - Essays in honour of Palle S Andersen, volume 50, pages 5-9 Bank for International Settlements.
    5. Klump, Rainer & McAdam, Peter & Willman, Alpo, 2004. "Factor substitution and factor augmenting technical progress in the US: a normalized supply-side system approach," Working Paper Series 367, European Central Bank.

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