This paper considers the effect of a productivity shock when the unemployed worker risks a loss of skill. This divides … the workers into short-term and long-term unemployment. In this economy, the short-term unemployed and long … framework, the implications of a shock with a minimum wage law is compared to the implications when wages are perfectly flexible …

relativ geringe Wachstum in den USA während der vergangenen 30 Jahre zu erklären. …

Post Keynesian (PK) growth models typically fail to model unemployment. That shows up in the absence of any equilibrium … or exploding unemployment rate. The underlying analytical problem is failure to resolve the Harrod (1939) knife edge …

shows how labor markets and unemployment can be added into super-multiplier models to provide a comprehensive growth model …