The rise of unemployment in Europe a Keynesian approach
This book offers a long overdue and refreshing Keynesian approach to the rise of European unemployment. It critically discusses the NAIRU theory and presents econometric evidence to assess the relative importance of capital investment and labor market institutions. The author also explores the reaso...
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| Format: | eBook |
| Language: | English |
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Cheltenham, U.K
Edward Elgar
2004
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| Series: | New directions in modern economics
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| Collection: | Edward Elgar eBook Archive - Collection details see MPG.ReNa |
| Summary: | This book offers a long overdue and refreshing Keynesian approach to the rise of European unemployment. It critically discusses the NAIRU theory and presents econometric evidence to assess the relative importance of capital investment and labor market institutions. The author also explores the reasons for the slowdown in capital accumulation, and is able to establish a clear link between changes in the financial sector, changes in corporate governance and investment expenditures 1. The rise of unemployment in Europe : a synopsis -- 2. Profits and unemployment : is there an equilibrium rate of unemployment in the long run? -- 3. The NAIRU theory, the NAIRU story and Keynesian approaches -- 4. Explaining the rise in European unemployment : an evaluation of the NAIRU story and a Keynesian approach -- 5. Financialization, shareholder value and the theory of the firm : financialization and management priorities -- 6. Financialization and the slowdown of capital accumulation -- 7. Policy conclusions |
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| Physical Description: | viii, 214 p ill |
| ISBN: | 1843764105 9781845421717 9781843764106 |