Comments on job market models
AbstractWe point out that the condition of maximization of the benefit is not Y'(n)=w in general, due to the eventual dependence of the salary w on the employement n. We show that in keynessian models, where the relation between w and n is given, we need to correct the relation between the salary and rent, but in classical models, where we use the benefit to find a demand function, the maximization of the benefit do not permit it. This is a case in wich, regardless the interplay between offer and demand is present, the price and level of interchange of a good (human work) cannot be determined by the intersection of offer and demand functions.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by EconWPA in its series Macroeconomics with number 0207004.
Length: 4 pages
Date of creation: 06 Jul 2002
Date of revision:
Note: Type of Document - LaTeX; prepared on IBM PC; to print on PostScript (first compile with LaTeX); pages: 4 ; figures: None. Here we show that the simplest classical model for the job market is mathematically wrong.
Contact details of provider:
Web page: http://18.104.22.168
inconsistency of the classical model; general macroeconomy;
Find related papers by JEL classification:
- E00 - Macroeconomics and Monetary Economics - - General - - - General
This paper has been announced in the following NEP Reports:
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA).
If references are entirely missing, you can add them using this form.