Review 16 -- No Title

This book of articles explains how the macroeconomic problem of involuntary unemployment varying with the business cycle has microeconomic foundations in the labor market in the form of efficiency wages. Although each article has been published elsewhere, together they trace the development and refinement of several efficiency wage models. The book's strength lies in the integrative introduction and overview article. Although much of this chapter stems from Yellen's previously published work, it provides the reader with a sound framework to read (or reread) the individual articles. For the active researcher in the area, this is of little concern and the book will provide little over previous readings of the articles. For the passive reader of the literature, the book's integrative introduction provides cohesion to perhaps seemingly...