Cover: Structural Slumps: The Modern Equilibrium Theory of Unemployment, Interest, and Assets, from Harvard University PressCover: Structural Slumps in PAPERBACK

Structural Slumps

The Modern Equilibrium Theory of Unemployment, Interest, and Assets

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Product Details


$50.00 • £40.95 • €45.00

ISBN 9780674843745

Publication Date: 09/01/1998


440 pages

6-3/8 x 9-1/4 inches

41 line illustrations, 12 tables


  • Preface
  • Introduction
  • Concepts and Agenda
    • Modern Equilibrium Theory
    • Contrary Postulates of the Neoclassical Schools
    • The Labor-Market Equilibrium Locus in Modern Models
    • The Product-Market Equilibrium Locus and Partial-Equilibrium Unemployment Determination
    • Capital-Market Equilibrium, Neoclassical and Modern, and General-Equilibrium Employment
    • Key Factors in the Structuralist Theory of Unemployment Fluctuation
  • The Closed Economy: Working Models
    • A Turnover-Training Model
    • A Customer-Market Model
    • A Two-Sector Fixed-Investment Model
    • Synthesis of the Single-Economy Theory
  • Small and Large Open Economies: Working Models
    • International Linkages through Investment in Employees
    • International Linkages through Investment in Customers
    • International Linkages through Investment in Fixed Capital
    • Synthesis of the Global-Economy Theory
  • Microtheoretic Formulations, Modern and Neoclassical
    • Interest and Wealth in the Microeconomics of the Incentive Wage and Equilibrium Unemployment
    • Structural Shifts and Economic Activity in Neoclassical Theory
  • Empirical Evidence
    • Econometric Tests of the Theory: A Postwar Cross-Country Time-Series Study
    • A Concise Nonmonetary History of Postwar Economic Activity
  • Concluding Notes
    • Notes on Classicism, Etc.
    • Economic Policies to Which the Structuralist Theory Might Lead
  • Notes
  • Glossary of Frequently Used Symbols
  • Index

Awards & Accolades

  • Edmund S. Phelps Is Winner of the 2006 Nobel Prize in Economics
  • 1994 Professional and Scholarly Publishing Award of the Association of American Publishers, Economics Category
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