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reducing utility and the benefits of leisure. This is contradicted by many empirical studies showing that unemployment is a … chosen to maximise profit. Including taxation to fund unemployment benefits and public goods, we show that switching from …-satisfaction; bargaining ; unemployment …
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Central banks need to be concerned about wages since they are a major driver of inflation. Rising wages are needed to signal directions for market adjustments to ensure growth. Wage growth is driven by relative scarcity, labor productivity and expectations about inflation and future growth....
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