BWE: Baseline workplace equilibrium.
CNDD: Constrained nonstationary demand disturbance.
DD: Nominal demand disturbance.
DSGE: Dynamic stochastic general equilibrium.
DSGE (aka DSGME): Dynamic stochastic general market equilibrium, which is the workhorse model of mainstream formal macroeconomics and in this book is equivalent to the venerable SVGE model class.
DSGWE: Dynamic stochastic general workplace equilibrium.
EWT: Efficiency-wage theory.
FEM: Formal economic method, featuring rational economic exchange organized around continuous general equilibrium.
FWGE: Fixed-wage general-equilibrium macro modeling. (See the list of terms above.)
GME: General market equilibrium.
GWE: General workplace equilibrium.
GWET: General workplace equilibrium theory.
ILJ: Involuntarily lost jobs.
LEV: Venue comprised of large, specialized establishments offering Class-I jobs.
MPL: Marginal product of labor.
MRS: Marginal rate of substitution between time at work and time at leisure.
NDD: Unchecked nonstationary (nominal) demand disturbance.
NNS: New neoclassical synthesis, which was proposed by Goodfriend and King (1997) and quickly became the consensus macro model in the academy.
OJB: On-the-job behavior, summarized from management’s aggregate perspective by Ź.
PC: Ptolemaic convention, referring to the implicit collusion among mainstream gatekeepers to accept, absent further justification, the presumption of market clearing.
RBC: Real business cycle, usually referring to the school of RBC theorists.
REH: Rational-expectations hypothesis.
SDD: Stationary (nominal) demand disturbance.
SEV: Venue comprised of establishments that are small or offer Class-II jobs.
SIR: Second Industrial Revolution.
SV: Single venue.
SVGE: Single-venue general equilibrium which, by the nature of the marketplace, is equivalent to single-venue general market equilibrium and, in its intertemporal stabilization variant, is equivalent to DSGE (the workhorse model of mainstream formal macroeconomics).
TVGE: Two-venue (workplace-marketplace) general equilibrium is equivalent to the Workplace-Marketplace Synthesis and is always intertemporal in nature, more precisely denoted by TVDGE.
TVT: The fundamental two-venue theorem.
UWC: Unbundled wage condition.
WER: Workplace Exchange Relation.
WET: Workplace equilibrium theory.
WMS: Workplace-marketplace synthesis.
WRC: Wage-rent constrained.