Money wages and employment - revisited

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Title: Money wages and employment - revisited
Authors: Moore, Michael J.
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Date: Nov-1983
Abstract: The Barro-Grossman/Malinvaud model is extended to include two factors of production: skilled labour with a flexible price and unskilled labour with an exogenously determined money wage. A number of simple diagrams are constructed to examine the possiblity that factor substitution could enable wage cuts to restore full employment. However easily interpretable conditions are derived to illustrate the circumstances under which employment of unskilled labour responds perversely to changes in money wages.
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
Subject LCSH: Factors of production
Unemployment--Effect of wages on
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Working Papers & Policy Papers

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