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Keynesian and Classical Unemployment in an Open Economy Erling
The Effects of Tariffs and Real Wages on Employment in a Barro
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adjustment aggregate demand analysis analyzed assume assumption average balance of trade behavior capital classical unemployment coefficient commodity comparative static constant constraints costs countries decrease demand for labor disequilibrium distribution domestic dummy Economic effective demand endogenous equation equilibrium estimated excess demand exogenous expected exports firms fixed exchange rate flexible exchange rates high school hours per worker implies income industries international element inventories Keynesian unemployment labor market labor productivity labor supply layoffs long-run macroeconomic ment negative nomic nontradables OECD optimal output period Phillips curve ployment probability of recall rate of change rate of growth rate of unemployment rationing real wage regimes relative price reservation wage schooling interruption Section sector shift short-run stock-out structural component submarkets supply of labor Table tariff tax evasion theory tion tradables underconsumption unem unemployed unemployment insurance vacancies variables wage increases wage rate wages and prices Walrasian equilibrium