{"product_id":"9781472513182","title":"Wages in the Business Cycle An Empirical and Methodological Analysis","description":"\u003ch3\u003eBloomsbury Academic Collections: Economics\u003c\/h3\u003e\u003ch1\u003eWages in the Business Cycle\u003c\/h1\u003e\u003ch2\u003eAn Empirical and Methodological Analysis\u003c\/h2\u003e\u003ch3\u003eJonathan Michie\u003c\/h3\u003e\u003cdiv\u003e\u003cb\u003eBusiness \u0026amp; Economics \/ Reference\u003c\/b\u003e\u003c\/div\u003e\u003cbr\u003e\u003cdiv\u003e\u003cp\u003eDuring prolonged economic recessions when the normal cyclical expansion of output fails to materialize, the topic of the ‘cyclical behaviour of wages' has emerged as an area of debate. In 1985, the British Treasury claimed that academic studies into the cyclical behaviour of wages demonstrated that a cut in wages would increase employment. \u003ci\u003eWages in the Business Cycle \u003c\/i\u003econtests this argument by presenting the results of original, empirical work which illustrates the absence of any systematic empirical regularity to wage movements over the business cycle.\u003cbr\u003e\u003cbr\u003eJonathan Michie argues that the re-emergence of this debate must be seen within the context of the theory of the ‘labour demand function', representing an attempt to challenge the Keynesian theoretical assumptions implicit in the bulk of applied macro economic work up to the late 1970s.\u003c\/p\u003e\u003c\/div\u003e\u003cdiv\u003e\n\u003cb\u003eJonathan Michie\u003c\/b\u003e is Professor of Innovation \u0026amp; Knowledge Exchange at the University of Oxford, UK, where he is also President of Kellogg College.\u003c\/div\u003e\u003cbr\u003e\u003ctable\u003e\n\u003ctr\u003e\n\u003ctd\u003ePublication Date: \u003c\/td\u003e\n\u003ctd\u003e09 January 2014\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePublisher: \u003c\/td\u003e\n\u003ctd\u003eBloomsbury Academic\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eImprint: \u003c\/td\u003e\n\u003ctd\u003eBloomsbury Academic\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eISBN-13: \u003c\/td\u003e\n\u003ctd\u003e9781472513182\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFormat: \u003c\/td\u003e\n\u003ctd\u003eHardback\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePage Count: \u003c\/td\u003e\n\u003ctd\u003e256\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eWeight (oz): \u003c\/td\u003e\n\u003ctd\u003e16.64\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/table\u003e","brand":"Bloomsbury Academic","offers":[{"title":"Default Title","offer_id":51331419996300,"sku":"9781472513182","price":171.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/getimage_30f434af-b076-4fa0-8cd1-bdb7a5fce004.jpg?v=1783596501","url":"https:\/\/lateknightbooks.com\/products\/9781472513182","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}