Full Employment Abandoned: Shifting Sands and Policy FailuresThis book by William Mitchell and Joan Muysken is both important and timely. It deals with the issue of the abandonment of full employment as an objective of economic policy in the OECD countries. It argues persuasively that macroeconomic policy has been |
Contents
| 3 | |
2 Early views on unemployment and the Phillips curve | 23 |
3 The Phillips curve and shifting views on unemployment | 49 |
the hoax that undermined full employment | 81 |
shifting sands and policy failures | 121 |
5 The shift to full employability | 123 |
the new mantra of macroeconomics | 146 |
7 The neglected role of aggregate demand | 163 |
Other editions - View all
Full Employment Abandoned: Shifting Sands and Policy Failures William Mitchell,J. Muysken No preview available - 2008 |
Common terms and phrases
aggregate demand analysis argued Australia behaviour Beveridge Beveridge curve Blanchard buffer stock cent central bank changes Chapter classical concept consider costs cyclical debate disinflation econometric economists effects emphasis empirical employer employment growth equilibrium European fiat currency fiscal policy Friedman full employability framework full employment government spending hysteresis impact income support increase inflation rate inflation targeting inflationary interest rate investment involuntary unemployment Irving Fisher Keynes Keynesian labour demand labour force labour market labour underutilisation long-run macroeconomic macroeconomic policy Malinvaud ment Mitchell monetarist monetary policy Muysken NAIRU natural rate hypothesis nomic non-government sector OECD OECD countries orthodox outcomes output period persistence Phelps Phillips curve ployment policy makers price stability private sector productivity programmes public sector rate of unemployment real wage reduce relationship role sacrifice ratio Sawyer shift shocks social Solow structural supply supply-side theoretical theory trade-off underemployment unem unemployed unemployment rate UV curve welfare Wray