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Wages and Unemployment

A Study in Non-Walrasian Macroeconomics

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Hardcover | 12 July 1993

At a Glance

Hardcover
276 Pages

Dimensions(cm)
22.86 x 15.24 x 1.91

Hardcover

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This book is concerned with the problem of wage rigidities in macroeconomic theory, and their implications for public policy. It offers an analysis of the microeconomic foundations of rigid wages, considering their implications for normative economics, and their role in explaining involuntary unemployment. The initial chapters examine short-run macroeconomic equilibrium with nominal rigidities within the framework of fixed-price temporary equilibria. This is followed by an overview and assessment of the main microeconomic mechanisms likely to account for real wage rigidity. In this context new findings concerning microeconomic mechanisms likely to account for real wage rigidity, including implicit contract theory, union behaviour and efficiency wage models are reported. The effect of efficiency wages on macroeconomic fluctuations is also considered. Finally an analysis of the important public policy issues raised in the book is provided.

Industry Reviews

'This is an interesting book which I recommend to read.' Journal of Economics

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You Can Find This Book In

Non-Fiction Economics Labour Economics Macroeconomics

Price rigidities and temporary equilibrium
Wage rigidity and short-run macroeconomic equilibrium
Real wages and the inflation-unemployment dilemma
External constraint, oil shock, and economic policy
Implicit contracts and unions
Introduction to efficiency wage models
Wages, employment fluctuations, and fiscal policy
Labour market dualism, efficiency wages, and optimal taxation
Table of Contents provided by Publisher. All Rights Reserved.

Wages and Unemployment

A Study in Non-Walrasian Macroeconomics

At a Glance

Hardcover

Industry Reviews

Shipping

How to return your order

Defective items

You Can Find This Book In

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