Stability Analysis of the Wage Function
Gilbert Owuor Olala
Broschiertes Buch

Stability Analysis of the Wage Function

Mathematical Model for Developing and Analyzing Stability of the Wage Function

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Stability of wage functions is fundamentally important in economic systems. In this book, first and second order wage equations are developed and solved. Subsequent wage functions are analyzed and interpreted for stability. For first order equation, its function initially stands off equilibrium wage rate but asymptotically stabilizes towards equilibrium wage rate in the long run. Speculative parameters operating freely dictating employers expectations included in modeling second order equation causes both stability and instability of wage function in certain circumstances. When wage function i...