You might also like

More about Labour Market Adjustment

• Book details
• Synopsis
• Trending among others

You get 163 loyalty points

Book synopsis

The main purpose of this book is to develop a general theoretical framework within which it is possible to analyse the interaction of markets in disequilibrium. It considers optimal firm and household behaviour in a dynamic sequence of the labour and commodity markets when there is imperfect information about wage offers and the supply price of labour. The study is mainly theoretical but several empirical phenomena are shown to have an important interpretation within the framework of the model. Models of individual behaviour dealt with in the book increase our understanding of the working of an economic system out of equilibrium by providing the foundation for such dynamic processes as the Keynesian multiplier and the Phillips curve. The analysis points to a short-run dynamic process which exhibits Keynesian features when involuntary unemployment coexists with frictional unemployment and Neoclassical features when involuntary unemployment falls to a very low level.

Book details

Book category Books in English Economics, finance, business & management Economics Labour economics

• Full title: Labour Market Adjustment
• Subtitle: Microeconomic Foundations of Short-run Neoclassical and Keynesian Dynamics
• Author: Pissarides
• Language: English
• Binding: Paperback
• Number of pages: 272
• EAN: 9780521106061
• ISBN: 0521106060
• ID: 02021858
• Publisher: Cambridge University Press
• Weight: 378 g
• Dimensions: 215 × 139 × 17 mm
• Date of publishing: 02. April 2009

Trending among others

---

---

---