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Money wages and employment - revisited

Author

Listed:
  • Michael J. Moore

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.

Suggested Citation

  • Michael J. Moore, 1983. "Money wages and employment - revisited," Working Papers 198316, School of Economics, University College Dublin.
  • Handle: RePEc:ucn:wpaper:198316
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    Download full text from publisher

    File URL: http://hdl.handle.net/10197/1405
    File Function: First version, 1983
    Download Restriction: no
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