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J M Keynes 1940
R Turvey and H Brems 1951
10 other sections not shown
aggregate demand aggregate supply analysis assumed average bargaining cent change in prices changes in output changes in wage coefficient competitive constant consumer prices consumption function correlation cost-push demand for labour demand-pull demand-pull inflation Dicks-Mireaux earnings economic effect employers equilibrium estimated excess demand expected expenditure factor Figure full employment function hyperinflation import prices incomes policy industries investment Keynes Keynesian labor market level of unemployment marginal ment monetary policy money income money supply money wage rates perfect competition pressure price changes price equation price increases price level price rise prices and wages productivity profits quantity of money raise rate of change real cash balances real income reduce regression relation result rise in prices scheduled rises sector significant stability statistical stock of money theory tion trade unions underemployment equilibrium unemploy unemployment United Kingdom wage and price wage changes wage determination wage drift wage increases wage policy wage-price wage-rate workers