The political economy of wages and unemployment : a neoclassical exploration / William Oliver Coleman
Material type:
TextPublication details: Cheltenham : Edward Elgar, 2010Description: viii, 242 p. 24 cmISBN: - 9781848446571
- 331.137 COL
| Item type | Current library | Call number | Status | Date due | Barcode | Item holds | |
|---|---|---|---|---|---|---|---|
Book
|
Calcutta | 331.137 COL (Browse shelf(Opens below)) | Available | IIMC-131874 |
Browsing Calcutta shelves Close shelf browser (Hides shelf browser)
|
|
|
|
|
|
|
||
| 331.137 ARE Missing links in the unemployment relationship / | 331.137 BLU Unemployment, search and labour supply / | 331.137 CAS Unemployment : | 331.137 COL The political economy of wages and unemployment : | 331.137 CRO Unemployment, hysteresis and the natural rate hypothesis / | 331.137 FAC Facing the future : | 331.137 FAR Expectations, employment and prices / |
In this tightly argued work William Coleman explores the macroeconomic implications of politically based restraints on competition in labour markets. Through a suite of compact models the author investigates the consequences of the labour force securing the best terms of sale for its labour by means of the electoral mechanism. He concludes that such 'electorally optimal' labour regulation can explain not only wage rigidity and unemployment, but also wage volatility; episodes of excess demand for labour; the co-existence of an inefficient state sector with an efficient private sector; and the preference for a minimum wage over a universal wage regulation. Finally, the approach can rationalise nominal wage rigidity, and not solely real wage rigidity.
There are no comments on this title.