Abstract

AbstractThis chapter examines various explanations for theories of employment fluctuations. It begins with looking at alternative unemployment theories and placing them into a unified framework to emphasize their prominent features. It also considers the discourse on the three classic models of trade union behavior: monopoly trade union, efficient bargains, and the “right to manage” model. In addition, it highlights the concepts of “insider-outsiders” theory, efficiency wage theories, and implicit contracts theories. This chapter includes sample problems regarding the tax scheme to fight unemployment and the simple model of nominal wage rigidity.

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