This well-documented book will prove to be the essential guide for researchers and graduate students in macroeconomics and political economy. It will also prove inspiring to a wider audience interested in modern Keynesian macroeconomics.In other words, the wage-setting curve shifts with any change in actual unemployment, that is, there is unemployment ... Equation (6.13) becomes: u t 5 u N 2 p2 1 w2 w1 Dp 1 hut21, (6.130) and uN can no longer be interpreted as the NAIRU.

Title | : | A Modern Guide to Keynesian Macroeconomics and Economic Policies |

Author | : | Eckhard Hein, Engelbert Stockhammer |

Publisher | : | Edward Elgar Publishing - 2011-01-01 |

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