IDEAS home Printed from
MyIDEAS: Login to save this paper or follow this series

Wages Behaviour and Unemployment in Keynes and New Keynesians Views. A Comparison

  • Nicola Meccheri

The paper compares different strands of New Keynesian Economics with respect to Keynes's original work on wages, describing which are the most relevant differences and analogies. In particular, two issues are analysed in detail. First, the explanations provided by Keynes and New Keynesians of nominal and real wages behaviour. Second, the different theories and interpretations concerning the ability of flexible nominal wages in assuring full employment in the economy. It is argued that, although persistent involuntary unemployment is acentral and continuing problem both in Keynes and New Keynesians views, referring to the role of nominal and/or real wages behaviour in explaining unemployment, New Keynesian theories present features which differ, sometimes substantially, from the ideas and concepts developed by Keynes in his General Theory.

If 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.

File URL:
Download Restriction: no

Paper provided by Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy in its series Discussion Papers with number 2004/41.

in new window

Date of creation: 01 Jan 2004
Date of revision:
Handle: RePEc:pie:dsedps:2004/41
Contact details of provider: Postal: Via Cosimo Ridolfi, 10 - 56124 PISA
Phone: +39 050 22 16 466
Fax: +39 050 22 16 384
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:pie:dsedps:2004/41. See general 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: ()

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.

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

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.