unemployment …

unemployment. This curve rests on the false premise that workers can 'choose' whether to work or not, and gives credence to the … idea that all unemployment constitutes chosen leisure. Despite this, it was used by Keynes to define the point of full …

stagnation and high unemployment may have had his belief in a monetary explanation for the Great Depression shaken by the failure … of Britain's departure from the gold standard to cause a rapid recovery and reduce unemployment. This disappointment led …

unemployment based on the skepticism toward existing theories based on the observations of a real economy.The study reveals two … and unfeasible.Second, Keynes's unemployment equilibrium is realized owing to market failure in a macro economy. Market … failure in a macro economy shows that involuntary unemployment results from quantitative and not price aspects. In other words …

Using a dynamic efficiency wage model, where a Phillips curve appears because worker morale depends on the unemployment … on unemployment in two steady states. In one steady state, only structural unemployment occurs. In the other, not only … structural unemployment but also Keynesian unemployment arises. We find that the effects obtained in the former steady state …