Arestis, Philip; Mariscal, Iris Biefang-Frisancho - 1998
determination of unemployment and wages in Germany and the U.K. Underlying this proposition is the notion that capital accumulation … dramatic rise in unemployment in the 1980s was attributed to adverse supply shocks. However, after the reversal of the shocks …, unemployment persisted which some economists explained by resorting to inflexibilities in the labor markets. It is worth noting …