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Macroeconomic Theory$
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Jean-Pascal Benassy

Print publication date: 2011

Print ISBN-13: 9780195387711

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780195387711.001.0001

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Unemployment

Unemployment

Basic Models

Chapter:
(p.369) 15Unemployment
Source:
Macroeconomic Theory
Author(s):

Jean-Pascal Bénassy

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780195387711.003.0015

This chapter examines various explanations for theories of employment fluctuations. It begins with looking at alternative unemployment theories and placing them into a unified framework to emphasize their prominent features. It also considers the discourse on the three classic models of trade union behavior: monopoly trade union, efficient bargains, and the “right to manage” model. In addition, it highlights the concepts of “insider-outsiders” theory, efficiency wage theories, and implicit contracts theories. This chapter includes sample problems regarding the tax scheme to fight unemployment and the simple model of nominal wage rigidity.

Keywords:   trade unions, monopoly trade union, efficient bargains, right to manage model, insider-outsiders theory, efficiency wage theories, implicit contracts theories

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