Unemployment: An International Perspective

Using standard OECD unemployment and national income account data, the relationship between unemployment rates and the productivity-adjusted real wage rate is examined for six major countries, Australia, Canada, France, Germany, Japan, and the United Kingdom, using bivariate regression analysis. In...

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Bibliographic Details
Published in:Journal of labor research 2000-07, Vol.21 (3), p.503-508
Main Authors: Gallaway, Lowell, Vedder, Richard
Format: Article
Language:English
Subjects:
Econometrics
Economic conditions
Economic theory
Exceptionalism
Hypotheses
International
International aspects
Labor productivity
Regression analysis
Studies
Unemployment
United States
Variables
Wage rates
Wages
Wages and labor productivity
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Summary:Using standard OECD unemployment and national income account data, the relationship between unemployment rates and the productivity-adjusted real wage rate is examined for six major countries, Australia, Canada, France, Germany, Japan, and the United Kingdom, using bivariate regression analysis. In addition, pooled crosssection estimates of the same relationship are provided for the 24 traditional OECD countries covering the period 1971-1995. The object is to determine whether the observed statistically significant positive relationship between these variables found for the United States exists in other economies. The basic conclusion is that the international experience in this regard is similar to that for the United States.
ISSN:0195-3613
1936-4768
DOI:10.1007/s12122-000-1024-1