Wage Dynamics

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August 31, 2024 4 min read Definitions
Lump of Labour Fallacy: Understanding the Misconception
Economics Labor Market Labor Economics Employment Immigration Wage Dynamics Say's Law
The Lump of Labour Fallacy is the incorrect belief that the amount of work available in an economy is fixed. This article explores the fallacy, its historical context, key events, and the economic theories debunking it.
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August 31, 2024 5 min read Definitions
Ratchet Effect: The Sticky Upward Trend
Economics Finance Behavioral Economics Ratchet Effect Inflation Sticky Prices Wage Dynamics Economic Theory
The Ratchet Effect refers to the tendency for a variable to be influenced by its own highest previous value, creating a one-way upward stickiness.
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August 24, 2024 3 min read Definitions
Sticky Wage Theory: Definition, Importance, and Economic Impact
Economics Labor Economics Sticky Wage Theory Labor Markets Economic Theory Macroeconomics Wage Dynamics
An in-depth exploration of the Sticky Wage Theory, its significance in economics, and its impact on labor markets and economic performance.
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