wunder · LibraryBook Vi Structural Models 87
Read in the Wunder reader — free23. A textbook macro-economic model 87
The IS-LM model 87
The production function 89
Dynamics versus statics 90
Phillipscurve 90
Macro-economic interactions 91
24. Heterogeneity and nonlinear taxation 92
Heterogeneity versus homogeneity 92
Nonlinear versus proportional taxation 93
Some literature 93
25. Summary of current views 94
A simple view 94
A complex view 96
Efficiency wages intermezzo 96
A more sophisticated view 97
Confusions 98
26. Heterogeneous labour 99
Dromedary supply 99
Dutch income distribution data 100
Definitions and formulas 102
Amendment to the textbook model on the Phillipscurve 106
27. Subsistence 106
Definitions 107
Economic literature 109
Types of indexation 109
Formal development 110
28. Phillipscurve 115
Concepts 115
A homogeneous Phillipscurve 118
On expectations 121
Heterogeneous Phillipscurves 122
More factors that cause a shift 122
Crowding out 123
Poverty 124
The submarket Phillipscurves 125
Shifting back 125
29. Tax basics 126
Taxes and premiums 126
Common structure 127
Nonlinear tax function 128
Exemption 129
The marginal rate 140
Balanced growth 143
Off balanced growth 144
30. Dynamic curvature of the tax wedge 145
Introduction 145
Formulas 145
Graphs 147
31. Differential impact of the minimum wage on exposed and sheltered sectors 149
Introduction 149
Model 151
Graphs 152
Tables 154
Conclusion 155
32. Dynamic optimality 155
The Phillipscurve revisited 155
Investment, growth and productivity 156
Definition & Reality in the General Theory of Political Economy · The Wunder Library — complete classics, free to read, with narration.