The Political Economy of Wages and Unemployment: A Neoclassical Exploration

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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 ...

The Political Economy of Wages and Unemployment: A Neoclassical Exploration 2010, Edward Elgar Publishing Ltd, Cheltenham

ISBN-13: 9781848446571

Hardcover

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