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    Employment and asset prices

    Zoega, Gylfi (2009) Employment and asset prices. Working Paper. Birkbeck College, University of London, London, UK.

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    A medium-term relationship exists between share prices, normalised by labour productivity, and the rate of unemployment in the OECD countries. A similar relationship appears to exist between unemployment and house prices. This helps explain decadal changes in mean unemployment, such as the shift to higher mean unemployment in the Continental European countries in the 1970s and 1980s that coincided with a fall in the level of share prices, as well as differences in mean unemployment between countries.


    Item Type: Monograph (Working Paper)
    Additional Information: BWPEF 0917
    Keyword(s) / Subject(s): Unemployment, share prices, natural rate of unemployment
    School: Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School
    Research Centres and Institutes: Applied Macroeconomics, Birkbeck Centre for
    Depositing User: Administrator
    Date Deposited: 09 Jul 2013 11:20
    Last Modified: 02 Aug 2023 17:06


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