THE EFFECTS OF LABOUR MARKET FLEXIBILITY IN THE MONETARY THEORY OF PRODUCTION

Andrea Pacella

Metroeconomica, 2008, vol. 59, issue 4, pages 608-632

Abstract: The aim of the present work is to study the effects of labour market flexibility on aggregate demand, productivity and employment within the theoretical framework of the Monetary Theory of Production. It is shown that labour market flexibility may not produce unidirectional effects on aggregate demand, productivity and employment, the working of the monetary market being decisive in establishing their levels. Copyright © 2008 The Author. Journal compilation © 2008 Blackwell Publishing Ltd.

Date: 2008

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