Efficiency wages, partial wage rigidity, and money nonneutrality

被引：2
|
作者：
Lin, CC [1 ]
Lai, CC
机构：
[1] Acad Sinica, Inst Econ, Taipei 11529, Taiwan
[2] Feng Chia Univ, Dept Econ, Taichung, Taiwan
来源：
SOUTHERN ECONOMIC JOURNAL | 1998年 / 65卷 / 02期
关键词：
D O I：
10.2307/1060672
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The efficiency wage theory is generally regarded as a plausible explanation as to why wages do not fall to clear labor markets in the presence of involuntary unemployment. At the current stage of its development, not much is said concerning the role of nominal money and the fluctuations in aggregate employment and output. Adopting the efficiency wage theory, this paper uses the idea of partial rigidity of wages in an attempt to explain why changes in money supply and other demand management policies can cause fluctuations in aggregate employment and output.
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页码：331 / 340
页数：10
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