Wage Bargaining in a Macroeconomic Model with Rationing
构建了一个单一商品封闭经济模型，商品价格固定，市场通过数量调整出清。实际工资和就业由工会与企业谈判决定，讨论了自主支出和保留工资变化对就业和实际工资的影响，并揭示了生产率和实际工资的周期运动可能性。
A model of a single-commodity, closed economy is constructed in which the commodity price is fixed and its market clears by quantity adjustment. The distinctive feature is that the real wage and employment are determined by bargaining between unions, representing workers and firms. There are several possible regimes, some with labor hoarding. The effects of changes in autonomous spending and the reservation wage on the endogenous variables of the model, including employment and the real wage are discussed. Some interesting possibilities emerge for the cyclical movement of productivity and the real wage.