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Wages and Unemployment : A Study in Non-Walrasian Macroeconomics - Pierre Picard

Wages and Unemployment

A Study in Non-Walrasian Macroeconomics

Hardcover Published: 25th June 1993
ISBN: 9780521350570
Number Of Pages: 276

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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.

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

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.

ISBN: 9780521350570
ISBN-10: 0521350573
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 276
Published: 25th June 1993
Publisher: CAMBRIDGE UNIV PR
Country of Publication: GB
Dimensions (cm): 23.47 x 16.31  x 2.49
Weight (kg): 0.61

Earn 441 Qantas Points
on this Book

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