Abstracts » Economics

Post Keynesian employment analysis and the macroeconomics of OECD unemployment

Article Abstract:

Organization for Economic Cooperation and Development (OECD) countries' high unemployment rate was analyzed through consideration of the Post Keynesian theory. It was noted that the discontinuance of the international monetary system contained in Keynes' 'incompatibility thesis' can be mainly attributed to the occurrence of high unemployment among OECD countries. The Post Keynesian theory, which was derived from Keynes' economic analysis, suggest that improvement in employment rate can be achieved through utilization of interest rate policy and promotion of cooperation between government and private investment initiatives.

Research, Keynesian economics

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Natural-rate theory and OECD unemployment

Article Abstract:

The occurrence of high unemployment among Organization for Economic Cooperation and Development (OECD) countries can be possibly attributed to shifts in energy prices and world real interest rates. The intertemporal-equilibrium models of endogenous natural-rate theory revealed that two events coincided with or took place before the incidence of high unemployment among OECD countries. Other probable causes of high unemployment rate in OECD countries include the lowering of productivity growth during mid 1970s and the rise in technological leniency against less educated laborers.

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Unemployment: questions and some answers

Article Abstract:

Issues concerning wage, benefit system and price pressure, among others were raised with regards to the persistence of high unemployment among Organization for Economic Cooperation and Development (OECD) nations. In terms of benefit system, it was noted that the occurrence of high unemployment among OECD countries is related to the rise in the generosity of the benefit system. Long duration benefits, meanwhile, was found to result in long-term unemployment.

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