Hoon, Hian Teck; Katsime, Margarita - 2018
We estimate the relationship between investment and unemployment over the time period 1960-2015 in 20 OECD countries …. While neoclassical growth theory typically assumes full employment – with no effect of investment on unemployment – we find …: when investment fell, unemployment increased. When the time period is broken down into two sub-periods to take account of …