macroeconomic policies against cyclical unemployment and other undesirable phenomenon associated with rapid economic development. …

The aim of the paper is to compare the NAIRU hypothesis regarding ­European unemployment and a Keynesian approach to … rise of European unemployment, for a Keynesian approach it is capital accumulation that is key. The theories are tested …). Unemployment benefits, union density and the tax wedge are used as wage push variables, and the growth of business capital stock as …

This paper shows that Pigou’s theory of unemployment, contrary to what Keynes thought, does not assume states of full … determination of mass unemployment, although Pigou was very cautious as regards the feasibility of demand policies as a means for … achieving full employment. The modern theory of the natural rate of unemployment, as empirically developed in the context of the …

This paper shows that Pigou’s theory of unemployment, contrary to what Keynes thought, does not assume states of full … determination of mass unemployment, although Pigou was very cautious as regards the feasibility of demand policies as a means for … achieving full employment. The modern theory of the natural rate of unemployment, as empirically developed in the context of the …

The aim of the paper is to contrast and test the NAIRU theory and the Keynesian theory of unemployment econometrically …. For the former, wage push variables are key in explaining the rise of European unemployment, for the latter accumulation … unrelated regression method (SUR). Unemployment benefits, union density and the tax wedge were used as wage push variables, and …