A Keynesian model for determining the level of employment and wages

Reynaldo Fernandes ()

Brazilian Journal of Political Economy, 1991, vol. 11, issue 2, 218-235

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.

Keywords: Post-Keynesian analysis; employment; wages (search for similar items in EconPapers)
Date: 1991
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