Labor-market adjustments and the persistence of unemployment

Article Abstract:

Competitive equilibrium theory's total market clearing assumption has been a problem in attempts to explain persistent unemployment, particularly in the case of the EC since the 1980s. Traditional approaches have integrated variables such as minimum wages, union power, normative traditions and efficiency-wage structures to explain persistence. Labor turnover models present an alternative view, where labor costs are associated with wages and the unemployment rate.

Models, Labor market

---

Toward a general theory of wage and price rigidities and economic fluctuations

Article Abstract:

A study was conducted to analyze the hypothesis that large economic fluctuations are the result of problems of adjustments to disturbances, particularly the adjustments of prices and wages. The premise that shocks lead to significant changes in relative prices because different prices are determined in different ways was examined. Results indicated that a dynamic portfolio theory of adjustment explains the slow speeds of adjustments and rigidities.

Pricing Policy, Wage Administration NEC, Pricing, Compensation management, Prices, Business cycles

---

After the big bang? Obstacles to the emergence of the Rule of Law in post-communist societies

Article Abstract:

A study of transitional economies of the post-communist nations that emerged from the former Soviet bloc is presented. The problems in moving from planned to market economies are discussed.

Economic Programs, Administration of Economic Programs, Russia, Interpretation and construction, Economic policy, Soviet Union, Post-communism

Similar abstracts:

• Abstracts: Intra-national labor market adjustment in the candidate countries. Labor market distortions and China's WTO accession package: an applied general equilibrium assessment
• Abstracts: Intra-national labor market adjustment in the candidate countries. part 2 The locking-in effect of subsidized jobs
• Abstracts: Robustness and real consequences of nominal wage rigidity. Skills, search and the persistence of high unemployment
• Abstracts: Estimation and inference of impulse responses by local projections
• Abstracts: Capturing knowledge within and across firm boundaries: evidence from clinical development. Inequality and the organization of knowledge

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.