Efficiency Wage Models of the Labor Market PDF ePub eBook

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Efficiency Wage Models of the Labor Market free pdf One of the more troubling aspects of the ferment in macroeconomics that followed the demise of the Keynesian dominance in the late 1960s has been the inability of many of the new ideas to account for unemployment remains unexplained because equilibrium in most economic models occurs with supply equal to demand: if this equality holds in the labor market, there is no involuntary unemployment. Efficiency Wage Models of the Labor Market explores the reasons why there are labor market equilibria with employers preferring to pay wages in excess of the market-clearing wage and thereby explains involuntary unemployment. This volume brings together a number of the important articles on efficiency wage theory. The collection is preceded by a strong, integrative introduction, written by the editors, in which the hypothesis is set out and the variations, as described in subsequent chapters, are discussed.

About George A. Akerlof

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Details Book

Author : George A. Akerlof
Publisher : Cambridge University Press
Data Published : 28 November 1986
ISBN : 0521312841
EAN : 9780521312844
Format Book : PDF, Epub, DOCx, TXT
Number of Pages : 192 pages
Age + : 15 years
Language : English
Rating :

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  • Efficiency Wage Models of the Labor Market free pdfEfficiency Wage Models of the Labor Market

    Download Full Books Free. One of the more troubling aspects of the ferment in macroeconomics that followed the demise of the Keynesian dominance in the late 1960s has been the inability of many of the