Economics, Econometrics and Finance
8 years ago

Keynesian and Marxian models outperform mainstream approach in explaining unemployment.

SSRN Electronic Journal
Competing Theories of Unemployment and Economic Policies: Evidence from the U.S., Swedish and German Economies
Constantinos Katrakilidis, Persefoni Tsaliki

Paper Summary

The article compares different ideas about why there is unemployment and how to fix it. They looked at data from the US, Germany, and Sweden. The results show that the Keynesian and classical/Marxian theories explain unemployment better than the neo-classical theory.

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