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Excess Demand, Unemployment, Vacancies, and Wages
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In this article, a neoclassical macro theory for money wage changes is presented, with spontaneous wage change and additional wage determinants, and the derivation of the Phillips relation is discussed.Abstract:
I. A neoclassical macro theory for money wage changes, 2. — II. Neoclassical wage theory with spontaneous wage change and additional wage determinants, 3 — III. Vacancies and unemployment and excess demand, 5. — IV. The derivation of the Phillips relation, 8. — V. The form of the Phillips relation, 11. — VI. The cyclical characteristics of unemployment and vacancies, 17. — VII. Vacancies, unemployment, and equilibrium, 21.read more
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