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The Rise of Unemployment since the 1950s

  • David Schwartzman

Abstract

Demographic explanations of the rise in unemployment in the United States since the 1950s have had little success (Summers, 1986). Greater female labour force participation has had no noticeable effect, and there are now relatively fewer unemployment-prone teenagers than in 1965. Surprisingly, unemployment has gone up despite a higher general level of education.

Keywords

Interest Rate Unemployment Rate Real Wage Real Interest Rate Capital Good 
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References

  1. Carmichael, J. and P. W. Stebbing (1983) ‘Fisher’s Paradox and the Theory of Interest’, American Economic Review, 83, pp. 619–30.Google Scholar
  2. Denison, E. S. (1985) Trends in American Economic Growth, 1929–1982 (Washington, D. C: Brookings Institution).Google Scholar
  3. Hamermesh, D. S. and J. Grant (1979) ‘Econometric Studies of Labor-labor Substitution and Their Implications for Policy’, Journal of Human Resources, 14, pp. 518–41.CrossRefGoogle Scholar
  4. Salter, W. E. G. (1966) Productivity and Technical Change (Cambridge: Cambridge University Press).Google Scholar
  5. Summers, L. H. (1986) ‘Why is the Unemployment Rate So Very High Near Full Employment?’, Brookings Papers on Economic Activity, 2, pp. 339–94.CrossRefGoogle Scholar

Copyright information

© Athanasios Asimakopulos, Robert D. Cairns and Christopher Green 1990

Authors and Affiliations

  • David Schwartzman

There are no affiliations available

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