Structural Slumps: The Modern Equilibrium Theory of Unemployment, Interest, and Assets

Book Description

Dissatisfied with the explanations of the business cycle provided by the Keynesian, monetarist, New Keynesian, and real business cycle schools, Edmund Phelps has developed from various existing strands-some modern and some classical--a radically different theory to account for the long periods of unemployment that have dogged the economies of the United States and Western Europe since the early 1970s. Phelps sees secular shifts and long swings of the unemployment rate as structural in nature. That is, they are typically the result of movements in the natural rate of unemployment (to which the equilibrium path is always tending) rather than of long-persisting deviations around a natural rate itself impervious to changing structure. What has been lacking is a "structuralist" theory of how the natural rate is disturbed by real demand and supply shocks, foreign and domestic, and the adjustments they set in motion.

To study the determination of the natural rate path, Phelps constructs three stylized general equilibrium models, each one built around a distinct kind of asset in which firms invest and which is important for the hiring decision. An element of these models is the modern economics of the labor market whereby firms, in seeking to dampen their employees' propensities to quit and shirk, drive wages above market-clearing levels-the phenomenon of the "incentive wage"--and so generate involuntary unemployment in labor-market equilibrium. Another element is the capital market, where interest rates are disturbed by demand and supply shocks such as shifts in profitability, thrift, productivity, and the rate of technical progress and population increase. A general-equilibrium analysis shows how various real shocks, operating through interest rates upon the demand for employees and through the propensity to quit and shirk upon the incentive wage, act upon the natural rate (and thus equilibrium path).

In an econometric and historical section, the new theory of economic activity is submitted to certain empirical tests against global postwar data. In the final section the author draws from the theory some suggestions for government policy measures that would best serve to combat structural slumps.

Structural Slumps: The Modern Equilibrium Theory of Unemployment, Interest, and Assets. (book reviews): An article from: Southern Economic Journal

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Structural Slumps: The Modern Equilibrium Theory of Unemployment, Interest, and Assets. (book reviews): An article from: Southern Economic Journal
Orley M., Jr. Amos
Manufacturer: Southern Economic Association
ProductGroup: Book
Binding: Digital
ASIN: B00093M0VK
Release Date: 2005-07-28

Book Description

This digital document is an article from Southern Economic Journal, published by Southern Economic Association on April 1, 1995. The length of the article is 966 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Structural Slumps: The Modern Equilibrium Theory of Unemployment, Interest, and Assets. (book reviews)
Author: Orley M., Jr. Amos
Publication: Southern Economic Journal (Refereed)
Date: April 1, 1995
Publisher: Southern Economic Association
Volume: v61 Issue: n4 Page: p1228(3)

Article Type: Book Review

Distributed by Thomson Gale

STRUCTURAL SLUMPS; THE MODERN EQUILIBRIUM THEORY OF UNEMPLOYMENT, INTEREST, AND ASSETS

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STRUCTURAL SLUMPS; THE MODERN EQUILIBRIUM THEORY OF UNEMPLOYMENT, INTEREST, AND ASSETS

Manufacturer: Harvard University Press Cambridge, MA, and London
ProductGroup: Book
Binding: Paperback
ASIN: B000IACWZI

Book Description

Parents around the world grapple with the common challenge of balancing work and childcare. Despite common problems, the advanced, industrialized nations have developed dramatically different social and labor market policies—policies that vary widely in the level of support they provide for parents and the extent to which they encourage an equal division of labor between parents as they balance work and care. In Families That Work, Janet Gornick and Marcia Meyers take a close look at the family-work policies in the United States and abroad and call for a new and expanded role for the U.S. government in order to bring this country up to the standards taken for granted in many other Western nations.

In many countries in Europe and in Canada, family leave policies grant parents paid time off to care for their young children, and labor market regulations go a long way toward ensuring that work does not overwhelm family obligations. In addition, early childhood education and care programs guarantee access to high-quality care for their children. In most of these countries, policies encourage gender equality by strengthening mothers' ties to employment and encouraging fathers to spend more time caregiving at home. In sharp contrast, Gornick and Meyers show how in the United States—an economy with high labor force participation among both fathers and mothers—parents are left to craft private solutions to the society-wide dilemma of "who will care for the children?" Parents—overwhelmingly mothers—must loosen their ties to the workplace to care for their children; workers are forced to negotiate with their employers, often unsuccessfully, for family leave and reduced work schedules; and parents must purchase care of dubious quality, at high prices, from consumer markets. By leaving child care solutions up to hard-pressed working parents, these private solutions exact a high price in terms of gender inequality in the workplace and at home, family stress and economic insecurity, and—not least—child well-being. Gornick and Meyers show that it is possible—based on the proven experiences of other countries—to enhance child well-being and to increase gender equality by promoting more extensive and egalitarian family leave, work-time, and child care policies.

Families That Work demonstrates convincingly that the United States has much to learn from policies in Europe and in Canada, and that the often-repeated claim that the United States is simply "too different" to draw lessons from other countries is based largely on misperceptions about policies in effect in other countries and the possibility of policy expansion in the United States.

Book Description

Each year government agencies distribute billions of dollars to qualified recipients via grants and contracts for special projects, including research, job training, product development, consulting, and testing. This insider's guide helps small businesses get their share of these unpublicized windfalls. Designed for the small business owner or manager, the book clearly explains how to apply for and win federal and state grants and also how to administer the funded program. It also provides a comprehensive directory of government contacts and shares insights into pursuing procurement contracts.

People skills: Building business relationships
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People skills: Building business relationships
Vera Hughes
Manufacturer: MacMillan
ProductGroup: Book
Binding: Paperback

Communications | Skills | Business & Investing | Subjects | Books
Running Meetings & Presentations | Skills | Business & Investing | Subjects | Books
General | Business & Investing | Subjects | Books
Human Resources & Personnel Management | Industries & Professions | Business & Investing | Subjects | Books
ASIN: 0333557158

The Platinum Rule: Powerful People Skills for Building Relationships
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The Platinum Rule: Powerful People Skills for Building Relationships
Tony Alessandra
Manufacturer: audible.com
ProductGroup: Book
Binding: Audio Download
ASIN: B000K0YN3U

Book Description

Who to call to land a job, where to send your resume, and who the major employers are

The bestselling regional job search series for more than 20 years, JobBanks include company profiles featuring:

-Full company name, address, and phone number

-Contacts for professional hiring

-Description of company's products or services

-Listings of professional positions commonly filled

-Educational backgrounds sought

-Fringe benefits

-Internships offered

-And more!

Each JobBank also includes:

-Sections on job search techniques

-Information on executive search firms and placement agencies

-Web sites for job hunters

-Professional associations

Customer Reviews:

Great resource for what it is........1999-06-04

The Greater Philadelphia Jobbank 1999 has very specific strengths. It's main purpose is as a job-seeker friendly directory of Philadlephia employers. It lists all kinds of companies separated by industry and by size with short descriptions of them. It also gives a brief general overview of the health and trends of each industry in the Philadelphia area and provides an excellent starting point by providing information about headhunters, employment agencies and the like. This book succeeds in achieving those goals, and as such is a great tool for identifying companies to target in your job search. I highly recommend it especially for people relocating or relatively new to the Philadelphia area who are looking for white-collar work. Where it is lacking is that it also includes brief generic and only marginally useful job search advice such as writing resumes. Bottom line-I think this is an excellent tool to help you in your Philadelphia job search, but get another book to help you with your resume/interviewing and other job search techniques.

The Greater Philadelphia Jobbank 2001 (Greater Philadelphia Jobbank, 13th ed)

Average customer rating:

Good, not great resource

The Greater Philadelphia Jobbank 2001 (Greater Philadelphia Jobbank, 13th ed)

Manufacturer: Adams Media Corporation
ProductGroup: Book
Binding: Paperback

General | Job Hunting & Careers | Business & Investing | Subjects | Books

Guides | Job Hunting & Careers | Business & Investing | Subjects | Books

Job Markets & Advice | Job Hunting & Careers | Business & Investing | Subjects | Books
ASIN: 1580624499

Customer Reviews:

Good, not great resource.......2001-03-15

If you are looking for a job in a specific city, a job bank book is a great way to get started. If you do not currently live in that city and have easy access to their local resources, it is especially valuable. It is a great way to start identifying companies and job search resources in that region. Comapnies are listed by industry and size. Some companies even have HR contacts listed.

But don't expect huge job search boosts from this--the job searching techniques section is not particularly good. As in any successful job search, you still have to pound the pavement to discover the best opportunities.

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Debt-Proof Your Kids Review

A MUST read for all parents!

great book

Debt-Proof Your Kids
Mary Hunt
Manufacturer: DPL Press
ProductGroup: Book
Binding: Paperback

Budgeting & Money Management | Personal Finance | Business & Investing | Subjects | Books
General | Personal Finance | Business & Investing | Subjects | Books
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Debt-Proof Living: The Complete Guide to Living Financially Free

Live Your Life for Half the Price: Without Sacrificing the Life You Love (Debt-Proof Living)

Debt-Proof Your Marriage: How to Achieve Financial Harmony (Debt-Proof Living)

Tiptionary 2: Save Time and Money Every Day with Over 2,300 All-New Tips

The Complete Cheapskate: How to Get Out of Debt, Stay Out, and Break Free from Money Worries Forever

ASIN: 0976079143

Book Description

What grade would you give your parents for how well they prepared you to manage your finances? What grade will your kids give you someday? At best you have 18 years to teach your kids how to manage money skillfully. So how do you accomplish this overwhelming challenge? Don't panic! Everything you need to get the job done is right here in this book. Think it's too late to debt-proof your kids? It's only too late if you don't start NOW!

Customer Reviews:

Debt-Proof Your Kids Review.......2007-01-18

This is a great book with many great points and ideas. I can't wait to start implementing the Salary Plan!

A MUST read for all parents!.......2000-06-16

This book is both extremely readable and extremely useful as a resource for parents with kids of all ages. If you're like me, you grew up with parents who didn't realize that money values need to be taught. As a result, growing into a financially healthy adult has been a long path of many avoidable mistakes. I was so thrilled to read Mary Hunt's advice so that I can give my kids the tools to master their own finances without making my mistakes. I'm buying a copy for all of my cousins and friends with kids ...

great book.......2000-04-02

Good way to make your kids not make the same credit mistakes that you have made!

Debt-Proof Your Kids : An Interesting Thing Happened on the Way to Getting a Financially Confident Life ... My Kids Got One Too

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wonderfully helpful book
Great guide to training your kids
Mary Hunt's Debt Proof Your Kids
Mary Hunt's Debt-Proof Your Kids --- Do this for your Kids!
Excellent advice on teaching your kids about money

Debt-Proof Your Kids : An Interesting Thing Happened on the Way to Getting a Financially Confident Life ... My Kids Got One Too
Mary Hunt
Manufacturer: Broadman & Holman Publishers
ProductGroup: Book
Binding: Paperback

General | Personal Finance | Business & Investing | Subjects | Books

Money & Values | Personal Finance | Business & Investing | Subjects | Books

jp-unknown1 | Specialty Stores | Books
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Debt-Proof Living: The Complete Guide to Living Financially Free
The Financially Confident Woman
Best of the Cheapskate Monthly: Simple Tips For Living Lean In The Nineties (Debt-Proof Living)
Debt-Proof Your Marriage: How to Achieve Financial Harmony (Debt-Proof Living)
Live Your Life for Half the Price: Without Sacrificing the Life You Love (Debt-Proof Living)

ASIN: 0805415181

Customer Reviews:

wonderfully helpful book.......2006-10-27

this is a fantastic book. my husband and i implemented the "monthly salary" as recommended by mary hunt for our 14 yr old son and -- so far, so good. with that money he's responsible for certain things throughout the month, and those items were outlined at the beginning of the financial plan. he's still learning, but then again, aren't we all?

i think mary hunt is a wonderful author, and she speaks and writes from personal experience. she dug herself out of more than $100,000 in debt.

she's very encouraging to those who are looking to improve their financial status as far as getting out of debt and staying that way. and she can even help improve the marriage relationship with her other book, debt-proof your marriage. it's a great read, too.

Great guide to training your kids.......2006-10-19

Really enjoyed this book. It's an easy read. The centerpiece of the book outlines a great plan of giving your kids a salary, with the requirement that they are responsible buying themselves a list of items, and every year that list and salary grows until they are managing their complete finances by their senior year. The book recommends starting as young as 10.

Also, beyond this plan, the book has great side commentary on teaching your kids about debt, budgeting, and lots of other aspects of finances.

Mary Hunt's Debt Proof Your Kids.......2000-02-23

This book has some great ideas for how to teach financial responsibility to your kids. It gives you an easy guide that has been used on their children and which really makes sence.

Mary Hunt's Debt-Proof Your Kids --- Do this for your Kids!.......1999-12-07

This summer I read Mary Hunt's Debt-Proof Your Children. Three months ago we started the salary for all three of my children. Here's the update on our progress with Mary's ideas on Debt-Proof Your Kids.

First of all if you have children READ MARY'S BOOK .. Debt-Proof Your Kids ... this has been the single best thing I've read on preparing your children for financial freedom in their adult life. I was skeptical at first, but am a FIRM BELIEVER! now. It's amazing the attitude towards money my children have now.

My children 15, 12, 10 are to the age where they like to buy Christmas gifts for their friends. This year (when first started on a salary 3 months ago) I told them it would be their responsibility to buy gifts for their friends. They're finished now and there was not even a mention of - Hey Mom how about some extra money. Believe me, this was the case before they were on a salary.

It relieved me of the - Mom can I have this ... they save their money and buy it if they still feel that way. I didn't realize how much more fun shopping can be when you don't have little ones asking for everything!

Everyone is still doing great on their salaries-- my oldest is much more frugal than I would have thought, my middle daugher is still buying more candy than necessary (or LIP GLOSS) but she's still has money saved and is doing well buying her own clothes when she needs them, and my youngest is doing well (even remembering to fill out his own lunch envelopes.)

I thought paying them their money the first of every month instead of throughout the month would be hard to budget for, but it's going well. I know exactly the $ amount and they stick to it.

Excellent advice on teaching your kids about money.......1999-01-28

This book is almost a "scares you straight" book. When I started seeing myself on so many pages, I was really sweatin'. An easy read, it is also full of great advice for teaching your kids. As I got further into the book, I particularly appreciated its layout.

The first half of the book is primarily anecdotes about encounters with debt, and results of the author's attempts to teach her children about handling money, also pulling in other research about kids and attitudes toward responsibility. I was a little worried about where the meat might be until I got to the second section (ch. 11), which details various aspects of money and money handling (credit cards, types of debt, compound interest, etc.) and ends each section with "The minimum your kids need to know about _____." I found this section a great resource for making notes about what I needed to talk to my own kids about. The final three chapters in the book talk about specific age-related issues and how much kids can be expected to understand at each age level. I found this section great for customizing a plan specific to each child.

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