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Wages in the Business Cycle

By Jonathan Michie

Wages in the Business Cycle Business, Finance & Career

Wages in the Business Cycle

0 - Default Title
Description
During prolonged economic recessions when the normal cyclical expansion of output fails to materialize, the topic of the 'cyclical behaviour of wages' has emerged as an area of debate. In 1985, the British Treasury claimed that academic studies into the cyclical behaviour of wages demonstrated that a cut in wages would increase employment. Wages in the Business Cycle contests this argument by presenting the results of original, empirical work which illustrates the absence of any systematic empirical regularity to wage movements over the business cycle. Jonathan Michie argues that the re-emergence of this debate must be seen within the context of the theory of the 'labour demand function', representing an attempt to challenge the Keynesian theoretical assumptions implicit in the bulk of applied macro economic work up to the late 1970s.
Product details
Edition:
1
Number of Pages:
210
Release Date:
2013-11-07
Publication Date:
2013-11-07
Publisher:
Bloomsbury 3PL
Languages:
Original: English
ISBN10:
1472513185
ISBN13:
9781472513182
GPSR Manufacturer Reference:
[email protected]
Weight:
485 g
Height:
161 cm
Width:
240 cm
Thickness:
16 cm
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