ABSTRACT
The chapter concerns the choice of the money wage variable rather than real wages, given that much of the existing literature focuses attention on the link between real wages and unemployment. John Nevile, NIF and IMP are members of the Keynes-Klein (KK) class. NEVILE is essentially a Keynesian commodity market system with a number of minor extensions and with the addition of a wage-price sector. The RBII models are members of the Phillips-Bergstrom (PB) class. ORANI is a general equilibrium model of the Johansen type, linear in the percentage changes of the variables in its working form. Each of ORANI's industries is governed by a constant-returns production technology. The basic relationship in this technology is that between different material inputs, between material inputs and primary factors in general, and between either of these types of input and other services. ORANI's indexing equations for wage rates paid to labour skills provide the vehicle for introducing a wage shock into ORANI.
