whereby unemployment affects investment and growth. The model generates a growth unemployment rate trade-off. A reduced … propensity to save raises growth but it also raises the unemployment rate because of induced technological progress. This … unemployment affects income distribution; introduction of a Phillips curve and inflation effects; and introduction of demand growth …

perspectives. Next, the paper shows that the super-multiplier is a micro-economically coherent theory of investment and capital … accumulation. Firms' decisions regarding capital accumulation coordinate demand and supply growth in goods markets. The paper then … shows how labor markets and unemployment can be added into super-multiplier models to provide a comprehensive growth model …

Post Keynesian (PK) growth models typically fail to model unemployment. That shows up in the absence of any equilibrium … or exploding unemployment rate. The underlying analytical problem is failure to resolve the Harrod (1939) knife edge …

insufficient capital accumulation responsible for unemployment (Arestis et al 2007). Empirical work in this tradition has paid … capital accumulation as a macroeconomic shock. In the empirical analysis, medium-term unemployment is explained by capital …According to the mainstream view, labour market institutions (LMI) are the key determinants of unemployment in the …

' PC (relating the level of the inflation rate, not the change in this rate, to the rate of unemployment); and the …

This paper argues that the natural rate of unemployment hypothesis, in which equilibrium unemployment is determined by … unemployment is haunted by hysteresis. The curious history of the natural rate hypothesis is considered, curious because the … regarding hysteresis effects on output and unemployment is then reviewed. …

This paper restates the post-Keynesian view of unemployment within a NAIRU framework. In the short run, the private …, 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 …