Wages, government policy and unemployment
Bibliographic Data
| ID | 12229974 |
|---|---|
| Authors | Jonathan Michie (0000-0001-6327-4891, University of Cambridge, corresponding author), Frank Wilkinson (University of Cambridge) |
| Year | 1995 |
| Volume | 7 |
| Issue | 2 |
| Pages | 133-149 |
| Publication date | 1995-04-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Review of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0953-8259 • E-ISSN: 1465-3982 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/09538259500000034 |
| OpenAlex | W2137202710 |
| Language | EN |
| Citations received | 4 |
| References cited | 7 |
In this paper we question the usefulness of what has become the new textbook orthodoxy—the ‘new Keynesian’ NAIRU theory. We then discuss the impact of the policy developments that follow from this orthodoxy, and argue that NAIRU theory has resulted in greater, not reduced, unemployment. Consequently, orthodox economic theory has added an upward twist to the stagnationist, high-unemployment ratchet
Economics · Full employment · Government (linguistics · Keynesian economics · Labour economics · Macroeconomics · Monetary policy · NAIRU · Neoclassical economics · New Keynesian economics · Orthodoxy · Phillips curve · Unemployment · Economic theories and models · Economic Theory and Policy · Political Economy and Marxism
| Citations per year | 0.13 |
|---|---|
| Citation span | 1995 - 2002 (8) |
| Highly cited | No |