Wages, regime switching, and cycles:
Gespeichert in:
| Vorheriger Titel: | Ferri, Piero The labor market and business cycle theories |
|---|---|
| Beteiligte Personen: | , |
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
Berlin u.a.
Springer
1992
|
| Ausgabe: | 2., completely rev. and enl. ed. |
| Schlagwörter: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002895686&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Umfang: | XII, 171 S. graph. Darst. |
| ISBN: | 3540550593 0387550593 |
Internformat
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Datensatz im Suchindex
| _version_ | 1819371612508520448 |
|---|---|
| adam_text | Contents
I Introduction 1
1 An Overall View 3
1.1 Scope and Objectives 3
1.2 The Revival of Business Cycle Theories 4
1.3 An Historical Outline 5
1.4 Facts and Theories 7
1.5 Nonlinearities and Business Cycles 9
1.6 The Role of the Labor Market in Business Cycles 9
1.7 The Regime Switching Approach 11
1.8 Plan of the Book 11
1.9 References 12
II The Business Cycle 15
2 Basic Concepts in the Theory of Cycles 17
2.1 Defining the Business Cycle 17
2.2 Does the Business Cycle Exist? 19
2.3 Trends and Cycles 19
2.4 The Asymmetries 21
2.5 Stylized Facts of the Labor Market 23
2.6 Has the Business Cycle Changed? 25
2.7 Long run Forces and Changing Institutional Settings 26
2.8 References 27
3 Microfounded Exogenous Explanations 31
3.1 Stochastic and Exogenous Theories 31
3.2 Linear Macroeconometric Models 32
3.3 The Econometric Evidence 33
3.4 Real and Monetary Factors 34
3.5 Lucas s Contribution 35
3.6 The Labor Market and Market Clearing 37
3.7 Real Business Cycle Theories 38
3.8 Search Models and the Business Cycle 40
3.9 Methodological Issues and Conclusions 42
x CONTENTS
3.10 References 43
4 Nonlinear Deterministic Theories 47
4.1 Endogenous and Deterministic Theories 47
4.2 Old and New Tools of Analysis 48
4.3 Ceilings and Floors 49
4.4 Nonlinearities and the Labor Market 50
4.5 An Eclectic Model 51
4.6 A Classical Nonlinear Model 54
4.7 An Intermediate run Model 56
4.8 Chaotic Behavior 58
4.9 Concluding Remarks 60
4.10 References 61
III Wages and Prices 65
5 The Dynamic Role of Wages and Prices 67
5.1 Two Perspectives 67
5.2 Inflation and Hyperinflation 67
5.3 The Dimensionality of the Wage Price Subsystem 69
5.4 Wages and Prices in a Business Cycle Perspective 70
5.5 Defining Rigidities 71
5.6 The Wage Price Spiral with Rational Expectations 73
5.7 Rigidities and the Impact on Cycles 76
5.8 References 77
6 The Phillips Curve Debate 81
6.1 Two Parallel Debates 81
6.2 Facts and Theories 81
6.3 The Phillips Curve 82
6.4 The Tradeoff Curve 83
6.5 Search Theories, Misperceptions, and Rationality 84
6.6 The Real Wage Resistance Hypothesis 86
6.7 The Wage Equation in Real Terms 87
6.8 An Imperfect Competition Model 88
6.9 The Three Empirical Dimensions of Stickiness 91
6.10 The Phillips Curve after the Lucas Critique 92
6.11 References 94
7 Microfoundations of Labor Market Modeling 97
7.1 The Search for a Theoretical Foundation of Rigidities 97
7.2 Keynes s Three Questions 97
7.3 New Keynesian Economics 99
7.4 The Theory of Efficiency Wages 100
7.5 Bargaining Theories 103
7.6 The Insider Outsider Model 104
CONTENTS xi
7.7 A Critical Assessment of Real Rigidity Theories 106
7.8 Nominal Rigidities 107
7.9 The Interdependence of Nominal and Real Rigidities 108
7.10 Noncompetitive labor markets and wage norms 109
7.11 The Indeterminacy Theorem 110
7.12 References Ill
IV Regime Switching 115
8 The Economics of Regime Switching 117
8.1 Introduction 117
8.2 A Definition 118
8.3 The Nature of a Regime 119
8.4 The Two Regimes in the General Theory 119
8.5 Regime Switching in Kalecki s Analysis 120
8.6 Changes in Industrial Relations 121
8.7 Rowthorn s Model 122
8.8 Toward Economic Justification 123
8.9 Three Possible Justifications 124
8.10 Regime Switching and Multiple Equilibria 125
8.11 The Time Dimension 126
8.12 References 126
9 Regime Switching and the Wage Price Spiral 129
9.1 Dynamics in an Intermediate Run Model 129
9.2 A Regime Switching Model 130
9.3 The Employment Subsystem 131
9.4 Exogeneity in Real Terms 131
9.5 Exogeneity in Nominal Terms 135
9.6 An Extension of the Model 136
9.7 The Role of Technical Change 138
9.8 Concluding Remarks 139
9.9 References 139
10 Inflation and Real Wages 143
10.1 Introduction 143
10.2 A Small Scale Macroeconomic Model 144
10.3 A Regime Switching Model 146
10.4 An Empirical Study of Regime Switching 147
10.5 The Working of the Model 150
10.6 Further Discussion of the Model 153
10.7 Summary and Conclusions 155
10.8 References 155
xii CONTENTS
V Concluding Remarks 157
11 An Assessment 159
11.1 Introduction 159
11.2 A Reconsideration of Regime Switching 159
11.3 Comparison with other Nonlinear Models 161
11.4 Microfoundation versus Justification 162
11.5 Ss Rules and the Stochastic Approach 163
11.6 Business Cycle Theory and the Labor Market 165
11.7 Towards Future Research 166
11.8 References 169
|
| any_adam_object | 1 |
| author | Ferri, Piero Greenberg, Edward |
| author_facet | Ferri, Piero Greenberg, Edward |
| author_role | aut aut |
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| dewey-full | 331.12/01/5118 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 331 - Labor economics |
| dewey-raw | 331.12/01/5118 |
| dewey-search | 331.12/01/5118 |
| dewey-sort | 3331.12 11 45118 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 2., completely rev. and enl. ed. |
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| id | DE-604.BV004710906 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T08:21:47Z |
| institution | BVB |
| isbn | 3540550593 0387550593 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-002895686 |
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| owner_facet | DE-19 DE-BY-UBM DE-384 DE-473 DE-BY-UBG DE-20 DE-945 DE-706 DE-634 DE-83 DE-188 |
| physical | XII, 171 S. graph. Darst. |
| publishDate | 1992 |
| publishDateSearch | 1992 |
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| publisher | Springer |
| record_format | marc |
| spellingShingle | Ferri, Piero Greenberg, Edward Wages, regime switching, and cycles Cycles économiques - Modèles mathématiques ram Marché du travail - Modèles mathématiques ram Salaires ram Mathematisches Modell Business cycles Mathematical models Labor market Mathematical models Konjunkturzyklus (DE-588)4032134-4 gnd Konjunkturmodell (DE-588)4164996-5 gnd Lohntheorie (DE-588)4168091-1 gnd Konjunkturtheorie (DE-588)4125557-4 gnd Arbeitsmarkt (DE-588)4002733-8 gnd |
| subject_GND | (DE-588)4032134-4 (DE-588)4164996-5 (DE-588)4168091-1 (DE-588)4125557-4 (DE-588)4002733-8 |
| title | Wages, regime switching, and cycles |
| title_auth | Wages, regime switching, and cycles |
| title_exact_search | Wages, regime switching, and cycles |
| title_full | Wages, regime switching, and cycles Piero Ferri ; Edward Greenberg |
| title_fullStr | Wages, regime switching, and cycles Piero Ferri ; Edward Greenberg |
| title_full_unstemmed | Wages, regime switching, and cycles Piero Ferri ; Edward Greenberg |
| title_old | Ferri, Piero The labor market and business cycle theories |
| title_short | Wages, regime switching, and cycles |
| title_sort | wages regime switching and cycles |
| topic | Cycles économiques - Modèles mathématiques ram Marché du travail - Modèles mathématiques ram Salaires ram Mathematisches Modell Business cycles Mathematical models Labor market Mathematical models Konjunkturzyklus (DE-588)4032134-4 gnd Konjunkturmodell (DE-588)4164996-5 gnd Lohntheorie (DE-588)4168091-1 gnd Konjunkturtheorie (DE-588)4125557-4 gnd Arbeitsmarkt (DE-588)4002733-8 gnd |
| topic_facet | Cycles économiques - Modèles mathématiques Marché du travail - Modèles mathématiques Salaires Mathematisches Modell Business cycles Mathematical models Labor market Mathematical models Konjunkturzyklus Konjunkturmodell Lohntheorie Konjunkturtheorie Arbeitsmarkt |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002895686&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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