Unemployment
Unemployment
1
F(un , z)
1
– By letting firms increase their prices given the wage, less stringent
enforcement of antitrust legislation leads to a decrease in the real
wage.
– Because the equilibrium rate of unemployment reflects the
structure of the economy, a better name for the natural rate of
unemployment is the structural rate of unemployment.
( z) u
e
t t z ut
e
t ( z) ut