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Pavel Ryska

Efficiency Wages and Involuntary Unemployment Revisited

Quarterly Journal of Austrian Economics

Author: Pavel Ryska Jan Průša

Online Publish Date: July 30, 2014

Category: Production Theory

Volume 15, No. 3 (Fall 2012) In this paper we tackle two shortcomings of the present efficiency wage models. Firstly, they do not fully account for labor heterogeneity, thus implying that high-effort and low-effort units of labor are interchangeable. Secondly, building on this assumed homogeneity of labor, the models derive involuntary

Deflation and Economic Growth: The Great Depression as the Great Outlier

Quarterly Journal of Austrian Economics

Author: Pavel Ryska

Online Publish Date: December 6, 2017

Category: Money and Banking, Booms and Busts

Quarterly Journal of Austrian Economics 20, no. 2 (Summer 2017) ABSTRACT: This paper deals with the relationship between deflation and economic growth. Although there are numerous theories on the potential effects of deflation on real output, empirical evidence in this field is still incomplete. In order to explore the relationship between prices

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