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|