Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/56538 
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dc.contributor.authorNaqvi, Nadeemen
dc.contributor.authorSchürg, Carolin V.en
dc.date.accessioned2011-11-10-
dc.date.accessioned2012-04-04T13:55:13Z-
dc.date.available2012-04-04T13:55:13Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aPhilipps-University Marburg, Faculty of Business Administration and Economics |cMarburgen
dc.relation.ispartofseries|aMAGKS Joint Discussion Paper Series in Economics |x46-2011en
dc.subject.jelA20en
dc.subject.jelD50en
dc.subject.jelE23en
dc.subject.jelF11en
dc.subject.jelJ23en
dc.subject.jelJ31en
dc.subject.ddc330en
dc.subject.keywordgeneral equilibriumen
dc.subject.keywordproduction seten
dc.subject.keywordproduction possibility frontieren
dc.subject.keywordefficiency wageen
dc.subject.keywordeconomic policyen
dc.subject.keywordlabor marketen
dc.subject.stwTechnische Effizienzen
dc.subject.stwAllgemeines Gleichgewichten
dc.subject.stwEffizienzlohnen
dc.subject.stwArbeitslosigkeiten
dc.subject.stwWirtschaftspolitiken
dc.subject.stwTheorieen
dc.titleEfficiency-wage hypothesis and the operational production pattern-
dc.typeWorking Paperen
dc.identifier.ppn671916483en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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