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dc.contributor.authorNaqvi, Nadeemen_US
dc.contributor.authorSchürg, Carolin V.en_US
dc.date.accessioned2011-11-10en_US
dc.date.accessioned2012-04-04T13:55:13Z-
dc.date.available2012-04-04T13:55:13Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/56538-
dc.description.abstractAn economy's production set is the collection of all net output vectors that the economy is capable of producing with a given technology and fixed quantities of primary factors of production. The boundary of this set is called the production possibility frontier or PPF. We show that, if the efficiency-wage hypothesis holds, a country's PPF, though conceptually valid, is an operationally irrelevant concept, because the economy never operates on the PPF, which is a view that ought to be appreciated in light of persistent unemployment in the new structure of economies of the post-21st-Century-crisis world.en_US
dc.language.isoengen_US
dc.publisherUniv., Dep. of Business Administration & Economics Marburgen_US
dc.relation.ispartofseriesJoint discussion paper series in economics 46-2011en_US
dc.subject.jelA20en_US
dc.subject.jelD50en_US
dc.subject.jelE23en_US
dc.subject.jelF11en_US
dc.subject.jelJ23en_US
dc.subject.jelJ31en_US
dc.subject.ddc330en_US
dc.subject.keywordgeneral equilibriumen_US
dc.subject.keywordproduction seten_US
dc.subject.keywordproduction possibility frontieren_US
dc.subject.keywordefficiency wageen_US
dc.subject.keywordeconomic policyen_US
dc.subject.keywordlabor marketen_US
dc.subject.stwTechnische Effizienzen_US
dc.subject.stwAllgemeines Gleichgewichten_US
dc.subject.stwEffizienzlohnen_US
dc.subject.stwArbeitslosigkeiten_US
dc.subject.stwWirtschaftspolitiken_US
dc.subject.stwTheorieen_US
dc.titleEfficiency-wage hypothesis and the operational production patternen_US
dc.typeWorking Paperen_US
dc.identifier.ppn671916483en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:MAGKS Joint Discussion Paper Series in Economics, Universität Marburg

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