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A Keynesian model for determining the level of employment and wages

Author

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  • Reynaldo Fernandes

Abstract

This paper discusses the determination of wages and employment under aKeynesian perspective, stressing mainly the microeconomic aspects of the effective demand.The adopted approach follows the “Weintraub tradition”. It is argued that the level ofemployment depends only upon the effective demand assuming that relative prices arerigid. However, the real wage is a function also of the level of employment and the relationbetween nominal wages and the user cost. JEL Classification: E12; E24.

Suggested Citation

  • Reynaldo Fernandes, 1991. "A Keynesian model for determining the level of employment and wages," Brazilian Journal of Political Economy, Center of Political Economy, vol. 11(2), pages 218-235.
    • Handle: RePEc:ekm:repojs:v:11:y:1991:i:2:p:218-235:id:1460
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    More about this item

    Keywords

    Post-Keynesian analysis; employment; wages;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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