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

Eskil Wadensjö

A chapter in Trade Unions, Wage Formation and Macroeconomic Stability, 1986, pp 318-320 from Palgrave Macmillan

Abstract: 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?

Keywords: Unemployment Rate; Real Wage; Labor Share; Wage Rigidity; Factor Share (search for similar items in EconPapers)
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-08596-5_21

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DOI: 10.1007/978-1-349-08596-5_21

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