Wages and Unemployment: A Study in Non-Walrasian Macroeconomics

by Pierre Picard

Overview

This book provides an overview and assessment of various theoretical approaches in macroeconomics that focus on wage rigidities and involuntary unemployment. It offers an analysis of the microeconomic foundations of rigid wages and considers their implications for public policy. It reports new findings concerning the theory of fix-price temporary equilibria, and provides an analysis of the micro-foundations of inefficiencies in the labor market such as risk-sharing mechanisms, union behavior and efficiency wage models.

Product Details

ISBN-13:	9780521350570
Publisher:	Cambridge University Press
Publication date:	05/13/1993
Pages:	276
Product dimensions:	6.10(w) x 9.21(h) x 0.79(d)

Table of Contents

1. Price rigidities and temporary equilibrium; 2. Wage rigidity and short-run macroeconomic equilibrium; 3. Real wages and the inflation-unemployment dilemma; 4. External constraint, oil shock, and economic policy; 5. Implicit contracts and unions; 6. Introduction to efficiency wage models; 7. Wages, employment fluctuations, and fiscal policy; 8. Labour market dualism, efficiency wages, and optimal taxation.

Editorial Reviews

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

From the Publisher