Cite JOURNAL ARTICLE
Lohnhöhe und Beschäftigung
Kaufkraft- und Kostenargument
Schuster, Helmut | Weiß, Christoph
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 111 (1991), Iss. 1 : pp. 55–64
In analysing the short run effects of wage changes on employment, the model presented provides a synthesis of the neoclassical and keynesian position. The negative scale effect of a wage increase is compared to the positive effect on demand, introducing a differentiated lag structure. The econometric tests show that the scale effect, with a lag of one quarter, is increasingly compensated by the positive impact on demand, with a lag of four quarters. The overall effect of a wage increase on employment is slightly positive if profit income is set exogenously, slightly negative if profit income is determined endogenously.