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Economic Policy Principles: Small Doses, Same Measures, Certainty - Labour Market

This article explores the economic policy principles of implementing measures in small doses and repeating them to help people adapt. It also discusses the impact on the labour market, including the price of leisure and the effects of changing real wages. Additionally, it examines unemployment, trade unions, and wage rigidity.

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Economic Policy Principles: Small Doses, Same Measures, Certainty - Labour Market

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  1. Портпарол Стејт департмента поднео оставку Portparol Stejt Dipartmenta dao ostavku Srpsla vlada uvodi jednoumlje

  2. Economic policy principles • 1. small doses • 2. of the same measure • Then people can addapt • brings certainty

  3. Labour market

  4. What is the price of 1 hour of leasure Equal to w Robinson Crusoe

  5. Available working hours

  6. l hours of leasure have a value • ‚

  7. consumption work leasure Ako se promeni realna zarada

  8. Figure 4.05 A R Output (Y) rad Realna nadnica MPL rad F.4.5 Production function and labour demand

  9. What is maximal consumption consumption work leasure

  10. It is here, were Crusoe works all the time Kada je dokolica l =0, onda je

  11. How does Crusoe react to a rise in real wage

  12. Will he work more or less?

  13. Real watge 8-17x Hours halved . We observe income effect in the long run

  14. Technical progress and employment Working age and unemployment

  15. Economics in 1 lesson

  16. Šta what is good for GM is good for America! • We protect our agriculture š

  17. Examples of full employment without reaching potential output

  18. Concentration camps • Tribal community

  19. Individual labor supply in hours Aggregate in men-hours

  20. Supply demand

  21. Interpretation of unemployment supply Real wage demand hours

  22. ravnotežna realna zarada w je preniskada bi svi radnici odustali od dokolice: neki bi želelida rade nepuno radno vreme, drugi opet nitoliko

  23. waGE RIGIDITY supply Real wage demand hours Nevoljna nezaposlenost ipak postoji...

  24. TRADE UNIONS • MINIMUM WAGES • EFFICIENT WAGES

  25. COLLECTIVE LABOR SUPPLY

  26. WHY DO TRADE UNIONS INSIST ON WAGES WHILE UNEMPLOYMENT GROWS?

  27. Odgovor • Zaposlenitraže rast (sopstvenih) realnih zarada, po cenurasta nezaposlenosti (ali ne sopstvene). • oni su insajderi

  28. IT CANNOT GO TOO FAR • THEY COULD LOOSE JOBS • COULD LOOSE MEMBERSHIP • LOOSE POLITICAL POWER

  29. STOPE NEZAPOSLENOSTI U RAZVIJENIM ZEMLJAMA London December 14, 2009, 21:33 IST OECD unemployment rate for the area was 8.8 per cent in October, 0.1 percentage point higher than the previous month. Japan saw an unemployment rate of 5.1 per cent in October. US 10% in November 2009. In the previous month, the unemployment rate had touched a 26-year-high of 10.2 per cent.

  30. http://en.wikipedia.org/wiki/List_of_countries_by_unemployment_ratehttp://en.wikipedia.org/wiki/List_of_countries_by_unemployment_rate

  31. Mean and medijan • France, Belgium, HollAND miminmum wages prevail

  32. Remember, 50% of high school seniors do not go to college janitor– domar ($13/hour)a delivery truck driver ($14/hour), a retail store assistant manager ($18/hour), automobile mechanic ($20/hour), fire fighter ($24/hour),  a nurse ($25/hour), a department store buyer ($28/hour), an automobile salesman ($32/hour with commissions), and an IT project manager ($41/hour). What is the mean (average) wage of these 9? It is easy to calculate: add up the wages and divide by 9: 13+14+18+20+24+25+28+32+41 = 215mean wage = 215 / 9 = $23.90/hour The median is $24/hour. The fire fighter earns the middle wage: 1/2 are lower, and 1/2 are higher. For this particular sample, the mean and median give a similar answer for what a "typical" person on that team now earns. Now let's look at Stephon's hourly wage.

  33. Unemployment bennefits trap

  34. hysteresia

  35. 8.68.76.2+ --- 6.15.44.6

  36. Zaposlenost u SAD 1970=100 • plate u Evrozoni Zaposlenost u Evrozoni • plate u SAD Figure 4.16 (a)

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