object is a producible asset (viz. real capital), new employment is created and extra production is invested in capital …, which generates permanent growth even under decreasing returns to capital. If it is an unproducible asset (viz. money …

in favor of either workers or entrepreneurs, the system does not fully accomplish the transition and unemployment might …

The paper analyses the sharp devergence in the nineties between capital formation in the main euro-area countries, on … and service sectors on capital stock, investment and value added. Our econometric estimates of an investment fonction … that links the growth of capital stock to value added for both the euro-area countries and the Anglo-Saxon countries. This …

the output gap includes the TFP gap and the unemployment gap (natural rate and actual rate on unemployment). Moreover, it … policies. On the other hand, it shows that productivity changes are associated to the evolution of capital labor ratio and … capital/trabajo y de la eficiencia de la inversión. La evidencia empírica muestra que en los pasados 25 años no hubo indicios …

Recent years have seen a rapid development of model connecting growth and unemployment, but their empirical relevance …-theoretic models of unemployment, namely, economic fundamentals other than labor market institutions (e.g. time preference) have non …-neutral effect on unemployment. This prediction is tested against the null hypothesis of the long-run separability between growth and …

equities, we examine equilibrium unemployment. While a mechanism of an efficiency wage brings about nominal wage rigidity …, unemployment occurring in our model definitely has Keynesian features. For instance, a reduction in wages rather enhances … unemployment through a decrease in consumption. In addition, our paper shows a possibility of Pareto improvement through an …

Keynes' theory can be interpreted as dealing with unemployment as a disequilibrium phenomenon in an essentially dynamic … context. In this perspective, it is much more important to explain why unemployment changes than to identify a presumed level … when maintaining that price and wage flexibility is not a cure for unemployment, and hence there is no unemployment …