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Contributions to Political Economy Advance Access originally published online on March 31, 2009
Contributions to Political Economy 2009 28(1):23-34; doi:10.1093/cpe/bzp005
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© The Author 2009. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved

Unemployment Revisited: Empirical Evidence from 20 OECD Countries

Constantinos Alexiou1 and Persefoni Tsaliki2

1 Department of Rural-Regional Planning and Development Engineering, Polytechnic School, Aristotle University of Thessaloniki, Greece
2 Department of Economics, Aristotle University of Thessaloniki, Greece

The undertaken paper attempts to gain further insight into a string of factors thought to condition unemployment. By exposing the theoretical arguments of the Keynesian Neoclassical and radical/Marxian approaches we empirically estimate a hybrid unemployment equation, the generated evidence of which appears to be in line with both the Keynesian and Marxian tradition. For the empirical investigation, dynamic panel data analysis is applied to 20 OECD countries for the period 1970–2003.


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