KINKED DEMAND CURVE THEORY AND THE MICRO FOUNDATIONS OF KEYNESIAN INVOLUNTARY UNEMPLOYMENT

This paper presents a macroeconomic model in which firms have kinked demand schedules owing to asymmetries in the dissemination of price information amongst consumers. It is then shown that nominal wage reductions may be unable to increase employment, let along secure full employment. The necessary condition is that the lower branch of the kinked marginal revenue schedule be negative. In this case, prices are unresponsive to nominal wage declines, and there is no Pigou effect from lower nominal wages.     

IMPLICIT CONTRACTS, TRADE UNIONS AND INVOLUNTARY UNEMPLOYMENT

Implicit contract theory is used to predict the nature of optimal wage-employment contracts between a firm and a union with a utilitarian maximand, under an uncertain revenue product of labour. By allowing recruitment of outsiders in good states, and allowing unemployment of union members in bad states, a rich set of possible trajectories in wages and employment is achieved. Monotonicity of employment in prices is preserved, whereas monotonicity of wages is not.     

搜寻理论、失业救济金与中国城镇人口失业持续时间

通过对享受失业救济金者和不享受者失业救济金者的再就业概率的分析,我们可以发现,与享受失业救济金者相比,人力资本特征、家庭特征和宏观经济环境对不享受失业救济金者的再就业概率有显著正向影响,转换模型也得出了失业救济金会降低再就业概率、延长失业持续时间的结论。     

总需求和总供给冲击对我国失业和产出动态关系的影响分析

在我国的失业产出关系中,短期内,总供给冲击是产出波动的主要来源,总需求冲击则是失业波动的主要来源,总需求冲击和总供给冲击共同破坏了产出失业之间反向变化关系,但是总需求冲击的破坏作用更多一些。在长期,总需求冲击对产出没有影响,总供给冲击对产出有显著的正的影响,总需求冲击在长期对失业没有影响,但总供给冲击在长期会对失业产生不利影响,即正的供给冲击的累积影响所带来的产出增加在长期使我国的失业率上升。