Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Портпарол Стејт департмента поднео оставку
Portparol Stejt Dipartmenta dao ostavku
Srpsla vlada uvodi jednoumlje
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• Economic policy principles–1. small doses
–2. of the same measure
–Then people can addapt
– brings certainty
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Labour market
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
What is the price of 1 hour of leasure
Equal to w
Robinson Crusoe
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Available working hours
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• l hours of leasure have a value
• ‚
)()( llwzaradićaillradića
Cllwzaradiillradi
)()(
Cllearnsillworks
))(
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Ako se promeni realna zarada
leasure
Cllearnsillworks
))(
work
con
sum
pti
on
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Rea
lna
nadn
ica
rad
Out
put
(Y)
rad
RA
= wslope
MPL
Figure 4.05
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• What is maximal consumption
leasure
Cllearnsillworks
))(
work
con
sum
pti
on
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Kada je dokolica l =0, onda je
lwC
It is here, were Crusoe works all the time
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
How does Crusoe react to a rise in real wage
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Will he work more or less?
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
1870 1913 1938 1973 1992 2000
Annual hours worked per person
France 2,945 2,588 1,848 1,771 1,542 1,517Germany 2,941 2,584 2,316 1,804 1,563 1,469UK 2,984 2,624 2,267 1,688 1,491 1,491USA 2,964 2,605 2,062 1,717 1,589 1,660Sweden 2,945 2,588 2,204 1,571 1,515 1,588
Real wage (index: 1870 = 100)
France 100 205 335 1,048 1,417 1,434Germany 100 185 285 944 1,178 1,222UK 100 157 256 439 640 733USA 100 189 325 596 659 737Sweden 100 270 521 1,228 1,493 1,727
1870 1913 1938 1973 1992 2000
France 2,945 2,588 1,848 1,771 1,542 1,517Germany 2,941 2,584 2,316 1,804 1,563 1,469UK 2,984 2,624 2,267 1,688 1,491 1,491USA 2,964 2,605 2,062 1,717 1,589 1,660Sweden 2,945 2,588 2,204 1,571 1,515 1,588
Real wage (index: 1870 = 100)
France 100 205 335 1,048 1,417 1,434Germany 100 185 285 944 1,178 1,222UK 100 157 256 439 640 733USA 100 189 325 596 659 737Sweden 100 270 521 1,228 1,493 1,727
We observe income effect in the long run
Real watge 8-17xHours halved .
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Technical progress and employment
Working age and unemployment
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• Economics in 1 lesson
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
š
• Šta what is good for GM is good for America!
• We protect our agriculture
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Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Examples of full employment without reaching potential output
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• Concentration camps
• Tribal community
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Individual labor supply in hours
Aggregate in men-hours
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Supply demand
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Interpretation of unemployment supply
demand
hours
Rea
l wag
e
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
ravnotežna realna zarada w je preniska da bi svi radnici odustali od dokolice: neki bi želeli da rade nepuno radno vreme, drugi opet ni toliko
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Nevoljna nezaposlenost ipak postoji...• waGE RIGIDITY
supply
demand
hours
Rea
l wag
e
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
- TRADE UNIONS
- MINIMUM WAGES
- EFFICIENT WAGES
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• COLLECTIVE LABOR SUPPLY
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• WHY DO TRADE UNIONS INSIST ON WAGES WHILE UNEMPLOYMENT GROWS?
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• Odgovor–Zaposleni traže rast (sopstvenih)
realnih zarada, po cenu rasta nezaposlenosti (ali ne sopstvene).
– oni su insajderi
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• IT CANNOT GO TOO FAR–THEY COULD LOOSE JOBS
–COULD LOOSE MEMBERSHIP
–LOOSE POLITICAL POWER
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
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.
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• http://en.wikipedia.org/wiki/List_of_countries_by_unemployment_rate
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• Mean and medijan
• France, Belgium, HollAND miminmum wages prevail
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Remember, 50% of high school seniors do not go to collegejanitor – 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/hourThe 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.
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
–Unemployment bennefits trap
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• hysteresia
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
8.68.76.2+
---
6.15.44.6
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
1970=100
Figure 4.16 (a)
Euro-zone employment
Real wages in the Euro-zone
80
100
120
140
160
180
200
220
1970 1975 1980 1985 1990 1995 2000
Employment in USA
Real wages in USA
80
100
120
140
160
180
200
220
1970 1975 1980 1985 1990 1995 2000
• Zaposlenost u SAD
• plate u SAD
• plate u Evrozoni
Zaposlenost u Evrozoni
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• Francuska
• Greece
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
• Social security network
•
Burda & Wyplosz Macroeconomics 3rd ednOXFORDUNIVERSITY PRESS
Figure 4.14
LABOR MARKET MAP
Employed unemployed
Out of contingent
Found job
fired
Retreat to unemploym
discouragedretired
Change of job
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