IDEAS home Printed from https://ideas.repec.org/a/ekm/repojs/v17y1997i3id96027.html

Labor market in Keynes and the role of rigid nominal wages

Author

Listed:
  • Selene Peres Peres Nunes

    (Da Secretaria do Tesouro Nacional (STN/MF) e da Universidade de Brasília – UnB, Brasília/DF, Brasil.)

  • Ricardo da Costa Nunes

    (Da Secretaria de Assuntos Internacionais (SEAIN/MPO) e da Universidade de Brasília – UnB, Brasília/ DF, Brasil.)

Abstract

This paper discusses the statement that the Keynesian Theory would be “a particularcase of the Classical Theory with rigid wages”. It examines whether Keynesian analysisdepends on the rigidity hypothesis and to what extent the referred hypothesis has actuallybeen used in The General Theory. The Neoclassical Labor Market is criticized. The KeynesianTheory of Employment, the Pigou’s Reply and the Neoclassical Synthesis are also examined.The analysis of the method applied in the General Theory of Employment, Interestand Money – a static method of a dynamic process – leads to the conclusion that its ideasrepresented a complete revolution on the economic thought prevailing before its publication. JEL Classification: B22; B31; E12.

Suggested Citation

  • Selene Peres Peres Nunes & Ricardo da Costa Nunes, 1997. "Labor market in Keynes and the role of rigid nominal wages," Brazilian Journal of Political Economy, Center of Political Economy, vol. 17(3), pages 428-443, July.
    • Handle: RePEc:ekm:repojs:v:17:y:1997:i:3:id:96027
    DOI: 10.1590/0101-31571997-0940
    as

    Download full text from publisher

    File URL: https://periodicos.fgv.br/bjpe/article/view/96027
    File Function: Abstract page
    Download Restriction: no
    File URL: https://periodicos.fgv.br/bjpe/article/download/96027/89497
    File Function: Full text
    Download Restriction: no
    File URL: https://libkey.io/10.1590/0101-31571997-0940?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ekm:repojs:v:17:y:1997:i:3:id:96027. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Cecília Heise (email available below). General contact details of provider: https://periodicos.fgv.br/bjpe .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.