RT Journal Article
T1 Capital stock and unemployment in Canada
A1 Martínez Cañete, Ana Rosa
A1 Palacio Vera, Alfonso
AB The purpose of this article is to test the proposition that capital stock relative to aggregate output was an important variable in the determination of the Canadian nonaccelerating inflation unemployment rate (NAIRU) in the period 1976Q1–2003Q4. We present new empirical evidence obtained from the use of Canadian time-series data that lends support to the claim that the aggregate capital-output ratio was a significant determinant of the NAIRU in the period considered. The evidence presented suggests that insofar as the aggregate capital-output ratio may be affected by changes in real interest rates, the stance of monetary policy was one determinant of the NAIRU in the period considered.
SN 0160-3477
YR 2011
FD 2011
LK https://hdl.handle.net/20.500.14352/105774
UL https://hdl.handle.net/20.500.14352/105774
LA eng
NO Martínez-Cañete, A. R., & Palacio-Vera, A. (2011). Capital stock and unemployment in Canada. Journal of Post Keynesian Economics, 34(1), 113–136. https://doi.org/10.2753/PKE0160-3477340105
DS Docta Complutense
RD 22 ago 2024