Research Catalog

Wages and unemployment : a study in non-Walrasian macroeconomics

Title
Wages and unemployment : a study in non-Walrasian macroeconomics / Pierre Picard.
Author
Picard, Pierre.
Publication
Cambridge [England] ; New York : Cambridge University Press, 1993.

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Details

Description
xi, 263 pages : illustrations; 24 cm
Summary
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 fix-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 implicit contract theory, union behaviour and efficiency wage models are reported. The effect of efficiency wage models on macroeconomic fluctuations is also considered. Finally an analysis of the important public policy issues raised in the book is provided.
Subject
  • Wages > Government policy
  • Unemployment
  • Equilibrium (Economics)
  • Macroeconomics
  • Equilibrium (Economics)
  • Salarissen
  • Werkloosheid
  • Economisch evenwicht
  • Politique salariale
  • Chômage
  • Équilibre (économie politique)
  • Macroéconomie
Bibliography (note)
  • Includes bibliographical references (p. 254-259) and indexes.
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. Efficiency wages, employment fluctuations and fiscal policy -- 8. Labour market dualism, efficiency wages and optimal taxation.
ISBN
  • 0521350573
  • 9780521350570
LCCN
92019475
OCLC
  • ocm26014304
  • 26014304
  • SCSB-1990384
Owning Institutions
Princeton University Library