Unemployment Recession And Effective Demand
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Unemployment Recession And Effective Demand
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Author : Claudio Sardoni
language : en
Publisher: Edward Elgar Publishing
Release Date : 2011-01-01
Unemployment Recession And Effective Demand written by Claudio Sardoni and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Political Science categories.
Unemployment, Recession and Effective Demand is a fine example of how critical analysis and debate about fundamental issues should be carried on. Claudio Sardoni does not pull his punches, but he criticises with courtesy in a learned and fair-minded way. His writings are a role model of proper procedure allied with cumulative persuasion through weight of evidence, sound scholarship and argument.' - From the foreword by G.C. Harcourt In the midst of the current world economic crisis, many claim there is a necessity to return to the Marxian and Keynesian traditions in order to better understand the dynamics of market economies. This book is an important step in that direction. It presents a critical examination of the foundations of macroeconomics as developed in the traditions of Marx, Keynes and Kalecki, which are contrasted with the current mainstream. Particular attention is given to the problem of market forms and their relevance for macroeconomics. Professional economists and postgraduate students in economics, in particular those concerned with macroeconomics and the history of economic thought in the 20th century, will find this insightful resource invaluable. This book should be required reading for a large proportion of the economics profession who are dissatisfied with the mainstream.
Unemployment Recession And Effective Demand
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Author :
language : en
Publisher:
Release Date : 2007
Unemployment Recession And Effective Demand written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
Marx And Keynes On Economic Recession
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Author : Claudio Sardoni
language : en
Publisher:
Release Date : 1987
Marx And Keynes On Economic Recession written by Claudio Sardoni and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Business & Economics categories.
Marx And Keynes On Economic Recessions
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Author : Claudio Sardoni
language : en
Publisher: NYU Press
Release Date : 1987-12-01
Marx And Keynes On Economic Recessions written by Claudio Sardoni and has been published by NYU Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987-12-01 with Political Science categories.
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The Fall And Rise Of Keynesian Economics
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Author : John Eatwell
language : en
Publisher: Oxford University Press
Release Date : 2011-06-16
The Fall And Rise Of Keynesian Economics written by John Eatwell and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-16 with Business & Economics categories.
The simple message of Eatwell & Milgate's Fall and Rise of Keynesian Economics is that it was inevitable that Keynesian economics would rise again when circumstances conspired to make it apparent that conventional macroeconomic thinking had lost its way and was unable to explain satisfactorily the most outstanding feature of our actual experience: financial instabilty and its effect on real economic activity.
Unemployment
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Author : K. G. Knight
language : en
Publisher: Rowman & Littlefield
Release Date : 1986
Unemployment written by K. G. Knight and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Business & Economics categories.
Unemployment is currently the major economic concern in developed countries. This book provides a thorough analysis of the theoretical and empirical aspects of the economics of unemployment in developed countries. It emphasizes the multicausal nature of unemployment and offers a variety of approaches for coping with the problem. Contents: Unemployment: Costs and Measurement; Stocks, Flows, Duration and the Incidence of Unemployment; Search, Unemployment and Unfilled Vacancies; Macroeconomics of Unemployment: The Classical Approach; Macroeconomics of Unemployment: The Non-Market Clearing Approach; Non-Natural Unemployment: The Empirical Evidence; The Natural Rate of Unemployment: The Supply Side; The Natural Rate of Unemployment: The Demand Side; Unemployment: Policy and Prospects; Bibliography^
Labor Force Participation And Monetary Policy In The Wake Of The Great Recession
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Author : Christopher J. Erceg
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-16
Labor Force Participation And Monetary Policy In The Wake Of The Great Recession written by Christopher J. Erceg and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-16 with Business & Economics categories.
In this paper, we provide compelling evidence that cyclical factors account for the bulk of the post-2007 decline in the U.S. labor force participation rate. We then proceed to formulate a stylized New Keynesian model in which labor force participation is essentially acyclical during “normal times” (that is, in response to small or transitory shocks) but drops markedly in the wake of a large and persistent aggregate demand shock. Finally, we show that these considerations can have potentially crucial implications for the design of monetary policy, especially under circumstances in which adjustments to the short-term interest rate are constrained by the zero lower bound.
Why Wages Don T Fall During A Recession
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Author : Truman F. BEWLEY
language : en
Publisher: Harvard University Press
Release Date : 2009-06-30
Why Wages Don T Fall During A Recession written by Truman F. BEWLEY and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-30 with Business & Economics categories.
A deep question in economics is why wages and salaries don't fall during recessions. This is not true of other prices, which adjust relatively quickly to reflect changes in demand and supply. Although economists have posited many theories to account for wage rigidity, none is satisfactory. Eschewing "top-down" theorizing, Truman Bewley explored the puzzle by interviewing--during the recession of the early 1990s--over three hundred business executives and labor leaders as well as professional recruiters and advisors to the unemployed. By taking this approach, gaining the confidence of his interlocutors and asking them detailed questions in a nonstructured way, he was able to uncover empirically the circumstances that give rise to wage rigidity. He found that the executives were averse to cutting wages of either current employees or new hires, even during the economic downturn when demand for their products fell sharply. They believed that cutting wages would hurt morale, which they felt was critical in gaining the cooperation of their employees and in convincing them to internalize the managers' objectives for the company. Bewley's findings contradict most theories of wage rigidity and provide fascinating insights into the problems businesses face that prevent labor markets from clearing. Table of Contents: Acknowledgments 1. Introduction 2. Methods 3. Time and Location 4. Morale 5. Company Risk Aversion 6. Internal Pay Structure 7. External Pay Structure 8. The Shirking Theory 9. The Pay of New Hires in the Primary Sector 10. Raises 11. Resistance to Pay Reduction 12. Experiences with Pay Reduction 13. Layoffs 14. Severance Benefits 15. Hiring 16. Voluntary Turnover 17. The Secondary Sector 18. The Unemployed 19. Information, Wage Rigidity, and Labor Negotiations 20. Existing Theories 21. Remarks on Theory 22. Whereto from Here? Notes References Index Reviews of this book: In Why Wages Don't Fall During A Recession, [Truman Bewley] tackles one of the oldest, and most controversial, puzzles in economics: why nominal wages rarely fall (and real wages do not fall enough) when unemployment is high. But he does so in a novel way, through interviews with over 300 businessmen, union leaders, job recruiters and unemployment counsellors in the north-eastern United States during the early 1990s recession...Mr. Bewley concludes that employers resist pay cuts largely because the savings from lower wages are usually outweighed by the cost of denting workers' morale: pay cuts hit workers' standard of living and lower their self-esteem. Falling morale raises staff turnover and reduces productivity...Mr. Bewley's theory has some interesting implications...[and] has a ring of truth to it. --The Economist Reviews of this book: This contribution to the growing literature on behavioral macroeconomics threatens to disturb the tranquil state of macroeconomic theory that has prevailed in recent years...Bewley's argument will be hard for conventional macroeconomists to ignore, partly because of the extraordinary thoroughness and honesty with which he evidently conducted his investigation, and the sheer volume of evidence he provides...Although Bewley's work will not settle the substantive debates related to wage rigidity, it is likely to have a profound influence on the way macroeconomists construct models. In particular, the concepts of morale, fairness, and money illusion are almost certain to play a big role in macroeconomic theory. His demonstration that there exist in reality simple, robust behavioral patters that cannot plausibly be founded on traditional maximizing behabior also raises the prospect of a more empirically oriented, more behavioral macroeconomics in the future. --Peter Howitt, journal of Economic Literature Reviews of this book: I think any scholar interested in labour markets and wage determination should read this well-written, lively, and highly stimulating book...[It] provides a fresh view and a lot of complementary background knowledge about how experienced people in the field see the employment relationship and what is actually crucial. Knowledge of this sort is all too rare in economics, and Truman Bewley's truly impressive study can serve as a role model for future investigations. --Simon G'chter, Journal of Institutional and Theoretical Economics To call this book a breath of fresh air is an understatement. The direct insights are fascinating, and Truman Bewley's use of them is sharp and insightful. Labor economists and macroeconomists have a lot to think about. --Robert M. Solow, Nobel Laureate, Institute Professor of Economics, Emeritus, Massachusetts Institute of Technology Truman Bewley set out to conduct a handful of interviews with business executives to gain some theoretical inspiration, and his project blossomed into over 300 interviews with business people, labor leaders and consultants. He is truly the accidental interviewer of economics. Time and again, he found that workers behave like people, not atomistic, selfish economic agents. His insights will engage and enrage economic theorists and empiricists for years to come. --Alan Krueger, Bendheim Professor of Economics and Public Affairs, Princeton University
Output And Unemployment Dynamics During The Great Recession
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Author : Francis Vitek
language : en
Publisher: International Monetary Fund
Release Date : 2010-08-01
Output And Unemployment Dynamics During The Great Recession written by Francis Vitek and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-08-01 with Business & Economics categories.
This paper analyzes the sources of output and unemployment dynamics in the world economy during the Great Recession. This analysis is based on a panel unobserved components model of the world economy, disaggregated into its fifteen largest national economies. We find that excess supply pressure was primarily transmitted from the output market to the labor market by economy specific combinations of negative domestic or foreign output demand shocks, mitigated to varying degrees by countercyclical labor market policies or institutions.
Book Review The General Theory Of Employment Interest And Money By John M Keynes
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Author : 50MINUTES.COM,
language : en
Publisher: 50Minutes.com
Release Date : 2018-01-04
Book Review The General Theory Of Employment Interest And Money By John M Keynes written by 50MINUTES.COM, and has been published by 50Minutes.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-04 with Business & Economics categories.
It can be hard for busy professionals to find the time to read the latest books. Stay up to date in a fraction of the time with this concise guide. The General Theory of Employment, Interest and Money by John Maynard Keynes was first published in 1936, and had a lasting impact on both economic theory and state economic policies. Keynes’s primary aim was to challenge certain aspects of classical economics which were accepted as fact at the time, namely Say’s law, which states that supply will create its own demand, and the assumption that free markets automatically tend towards full employment. Keynes introduced several revolutionary concepts in this book, including effective demand, the propensity to consume, the investment multiplier and the liquidity-preference, to support his arguments in favour of greater state interventionism as a response to financial crises. This book review and analysis is perfect for: • Anyone interested in the history of economic theory, particularly macroeconomics • Anyone who wants to understand the aims of state intervention in the financial market • Students of, or anyone interested in, modern politics and economics About 50MINUTES.COM| BOOK REVIEW The Book Review series from the 50Minutes collection is aimed at anyone who is looking to learn from experts in their field without spending hours reading endless pages of information. Our reviews present a concise summary of the main points of each book, as well as providing context, different perspectives and concrete examples to illustrate the key concepts.