WAGE FLEXIBILITY, EXCHANGE-RATE COMPETITIVENESS AND FULL EMPLOYMENT: THE FIRST HERETICS
ABSTRACT This paper discusses Keynes’ and Kalecki’s rejection of the notion that downward wage flexibility would ensure full employment, recollecting also Steindl’s stagnation theory, which extends to the long-run Kalecki’s ideas. It then considers the association between wage fall and currency depr...
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| Format: | Article |
| Language: | English |
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Universidade Federal do Rio de Janeiro
2020-09-01
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| Series: | Revista de Economia Contemporânea |
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| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1415-98482020000200211&tlng=en |