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In labour economics, Shapiro–Stiglitz theory of efficiency wages (or Shapiro–Stiglitz efficiency wage model) [1] is an economic theory of wages and unemployment in labour market equilibrium. It provides a technical description of why wages are unlikely to fall and how involuntary unemployment appears. This theory was first developed by Carl ...
OCLC. 62532514. The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936. It caused a profound shift in economic thought, [1] giving macroeconomics a central place in economic theory and contributing much of its terminology [2] – the "Keynesian Revolution".
Insider-outsider theory of employment. The insider-outsider theory is a theory of labor economics that explains how firm behavior, national welfare, and wage negotiations are affected by a group in a more privileged position. [1] The theory was developed by Assar Lindbeck and Dennis Snower in a series of publications beginning in 1984. [1][2][3]
The unemployment rate declined to 4.2% from 4.3%, which had been the highest level in nearly three years. Those signs indicate that the job market, though cooling, remains sturdy.
Federal Reserve Governor Michelle Bowman explained her dissent from the central bank's decision to cut interest rates by 50 basis points, saying she would have preferred a smaller cut.
The amount of unemployment in an economy is measured by the unemployment rate, i.e. the percentage of persons in the labor force who do not have a job, but who are actively looking for one. People who are retired, pursuing education, or discouraged from seeking work by a lack of job prospects are not part of the labor force and consequently not ...
In an official statement, the Fed’s Federal Open Market Committee said: “The Committee seeks to achieve maximum employment and inflation at the rate of two percent over the longer run.
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) [2] not being in paid employment or self-employment but currently available for work during the reference period. [3] Unemployment is measured by the unemployment rate, which is the number of people who are ...