shadow real wage en · NOUN
Meanings
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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.
1982, Frank Hahn, Monetary and Inflation, Oxford: Basil Blackwell, page 49:
Forms
| Spelling | Features | Labels | Source |
|---|---|---|---|
| shadow real wages | Number=Plur | lexicographic |
Hypernyms
Translations (1)
de Schattenreallohn (Translations)