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Starting from a Post-Keynesian model in which employment is determined by effective demand and the NAIRU is viewed as a … limit to employment, enforced by monetary policy reacting upon conflict inflation, the effects of central bank independence … and labour market institutions on macroeconomic performance are considered and the perspectives for employment and …
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This paper analyses the relationship between the real wage rate and employment when we induce capital … condition, but also that if the increasing returns to scale are small, then it is more likely that employment will increase …
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