equities, we examine equilibrium unemployment. While a mechanism of an efficiency wage brings about nominal wage rigidity …, unemployment occurring in our model definitely has Keynesian features. For instance, a reduction in wages rather enhances … unemployment through a decrease in consumption. In addition, our paper shows a possibility of Pareto improvement through an …

efficiency wages and involuntary unemployment. Central to the efficiency-wage theory is the hypothesis that firms may set wages …

sharing reduces equilibrium unemployment under circumstances with sufficiently ‘rigid’ labour market institutions, ie …

in education, (ii) the production level depends on the education level, and (iii) the pollution ia directly prportional …

. At the same time, pollution from factories appears quite harmful to infants. The overall effect was slightly higher …

the informal manufacturing sector creates pollution, higher the use of informal sector product, higher is the pollution … created and higher the discrepancy between actual and permissible levels of pollution, so that the emission tax payable by the … formal sector is also higher. The efficiency of a representative worker is inversely related to the level of pollution. In …