Unemployment, capital accumulation and labour market institutions in the Great Recession

被引：16

作者：

Stockhammer, Engelbert ^{[1
]}

Guschanski, Alexander ^{[1
]}

Koehler, Karsten ^{[1
]}

机构：

[1] Kingston Univ, Kingston Upon Thames, Surrey, England

来源：

EUROPEAN JOURNAL OF ECONOMICS AND ECONOMIC POLICIES-INTERVENTION | 2014年 / 11卷 / 02期

关键词：

unemployment; NAIRU; post-Keynesian economics; panel analysis;

D O I：

10.4337/ejeep.2014.02.05

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper restates the post-Keynesian view of unemployment within a NAIRU framework. In the short run, the private effective labour demand need not be downward sloping because of debt deflation and wage-led demand regimes. In the medium run, the NAIRU will be endogenous because of the social norm character of wage setting and the supply-side effects of capital accumulation. Capital investment rather than labour market institutions is the crucial variable that explains changes in unemployment performance. We provide econometric evidence that the post-Keynesian view holds up well in the recession following the crisis of 2008.

引用

页码：182 / 194

页数：13

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