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Comment on J. McCallum, “Wage Gaps, Factor Shares and Real Wages”

In: Trade Unions, Wage Formation and Macroeconomic Stability

Author

Listed:
  • Eskil Wadensjö

    (Institute for Social Research)

Abstract

The paper by John McCallum is related to important issues in the current economic debate; i.e. what is the explanation for current high rates of unemployment in industrialized market economies? Is unemployment caused mainly by rigid real wages, i.e., classical unemployment, or is it due to nominal wage rigidity, i.e., Keynesian unemployment?

Suggested Citation

  • Eskil Wadensjö, 1986. "Comment on J. McCallum, “Wage Gaps, Factor Shares and Real Wages”," Palgrave Macmillan Books, in: Lars Calmfors & Henrik Horn (ed.), Trade Unions, Wage Formation and Macroeconomic Stability, pages 318-320, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-08596-5_21
    DOI: 10.1007/978-1-349-08596-5_21
    as

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