Inflation and unemployment : macroeconomics with a range of equilibria
著者
書誌事項
Inflation and unemployment : macroeconomics with a range of equilibria
Basil Blackwell, 1990
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注記
Includes bibliographical references
内容説明・目次
内容説明
The persistance of high rates of unemployment and inflation throughout the industrialized world has imposed a heavy burden on many of their residents. This books aims to develop a theory of macroeconomics in which there is a range of equilibrium levels of unemployments and discusses the implications for macroeconomic policy of the existence of such a range. McDonald argues that this macroeconomic theory is in closer agreement with empirical evidence than a theory of the natural rate of unemployment. Within the range of equilibrium levels of unemployment, the level of the aggregate demand determines the actual level of employment at which the economy settles. Because of this property, the models offer a microeconomic foundation for Keynesian economics. The author goes on to discuss economic policy and offer some guidance on managing an economy in which there is a persistent range of equilibria.
目次
- Part 1 Introduction: the problem of stagflation
- alternative views. Part 2 Customer markets: retailing in a customer market
- empirical evidence on customer markets. Part 3 Customer markets, efficiency wage bargaining and the range of equilibria: inducing efficiency. Part 4 Customer markets, group wage bargaining and the range of equilibria: group wage bargaining with specific human capital
- group wage bargaining with an open trade union
- group wage bargaining with an insider-dominated trade union. Part 5 The implications for macroeconomic policy of a range of equilibrium levels of unemployment.
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