Arbeitsmarkt und BeschÃ¤ftigung
The Labor Market and Employment (Handbook article). The labor market differs from typical markets in important ways. We find job competition and collective mechanisms that set wages and working conditions. Changes in employment bring about changes in wages and prices and entail political and monetary responses. The goals of price stability and full employment cannot, usually, be attained simultaneously under the present conditions.
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- Schlicht, Ekkehart, 1992. "Wage Generosity," Munich Reprints in Economics 3165, University of Munich, Department of Economics.
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