Wages, Employment, Distribution and Growth International Perspective
This volume challenges the view that unemployment is exclusively determined by structural characteristics of the labour market and the social benefit system. Macroeconomic policies and investment in capital stock are included in the analysis and are shown
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Wages, Employment, Distribution and Growth International Perspectives Edited by
Eckhard Hein Arne Heise and Achim Truger
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Selection and editorial matter © Eckhard Hein, Arne Heise and Achim Truger 2006 Individual chapters © contributors 2006 So ftcover reprint of the hardcover 1st edition 2006 978-1-4039-4962-2 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Totten ham Court Road, london WlT 4lP. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2006 by PAlGRAVE MACMilLAN Houndmills, Basingstoke, Hampshire RG21 6XS and 175 Fifth Avenue, New York, N.Y. 10010 Companies and representatives throughout the world. PAlGRAVE MACMILLAN is the global academic imprint of the Palgrave Macmillan division of St. Martin's Press, llC and of Palgrave Macmillan ltd. Macmillan® is a registered trademark in the United States, United Kingdom and other countries. Palgrave is a registered trademark in the European Union and other countries. ISBN 978-1-349-52587-4 DOI 10.1057/9780230371781
ISBN 978-0-230-37178-1 (eBook)
This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. A catalogue record for this book is available from the British Library. Library of Congress Cataloging in Publication Data Wages, employment, distribution, and growth I edited by Eckhard Hein, Arne Heise, and Achim Truger. p.cm. In dudes bibliographical references and index. 1. labor supply. 2. Wages. 3. Income distribution. 4. Economic development I. Hein, Eckhard, 1963- II. Heise, Arne, 1960-111. Truger,Achim. HD5706W24 2006 331.1-dc22 2005051392 10 9 8 7 6 5 4 3 2 1 15 14 13 12 11 10 09 08 07 06
Contents List of Tables and Figures Notes on the Contributors Introduction Eckhard Hein, Arne Heise and Achim Truger 1
Labour-Market Flexibility and Economic Expansion Amit Bhaduri
2 The Causes of High Unemployment: Labour-Market Sclerosis v. Macroeconomic Policy Thomas I. Palley 3
Is Capital Stock a Determinant of Unemployment? Philip Arestis, Michelle Baddeley and Malcolm Sawyer
4
Deflation Risks in Germany and the EMU: The Role Wages and Wage Bargaining Eckhard Hein, Thorsten Schulten and Achim Truger
5
The Influence of Unemployment, Productivity and Institutions on Real Wage Trends: The Case of Italy 1970-2000 Enrico Sergio Levrero and Antonella Stirati
6
Unequal Fortunes, Unstable Households: Has Rising Inequality Contributed to E
