The market for labor in Post-Keynesian Institutionalism: a theoretical framework

Eduardo Fernández-Huerga

Chapter 12 in A Modern Guide to Post-Keynesian Institutional Economics, 2022, pp 273-297 from Edward Elgar Publishing

Abstract: Since the labor market occupies an essential place in economic theory and policy, this chapter spells out a Post-Keynesian Institutionalist framework for the analysis of labor markets. To achieve this goal, the essential elements of a conception of labor supply consistent with the basic foundations of Post-Keynesian Institutionalism are first presented. Then the same is done in the case of the demand for labor. In both cases, we build on a foundational vision of the behavior of individuals and the nature and performance of firms. Finally, we sketch an integrated theoretical framework for labor market analyses. To that end, the set of relationships and activities that occur in the market are reviewed, with a focus on identifying the institutions that govern those relationships and that, ultimately, constitute the labor market.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2022
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