shadow real wage

Noun

(economics) A shadow price of labor, i. e. a real wage which is not based on actual market exchanges.

Japanese Meaning

（経済学）実際の市場取引に基づかない、労働の影の価格としての実質賃金。すなわち、労働の真の価値を反映するために市場以外の要素を考慮した賃金。

What is this buttons?

In the model, the shadow real wage determines the labor allocation when markets are distorted.

Google Translation / DeepL Translation

モデルでは、影の実質賃金が市場の歪みによって労働配分を決定する。

Details

Sense（1）

(economics) A shadow price of labor, i. e. a real wage which is not based on actual market exchanges.

Lucas has said that he finds [involuntary unemployment] a mysterious notion, but in fact it is crystal clear: the shadow real wage of the unemployed is below the prevailing real wage.

Google Translation / DeepL Translation

Details

shadow real wages

（ plural ）

Details

shadow real wage

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