The Keynesian Aggregate Supply Function for Labor.

This article formulates a class of aggregate supply functions of labor which is an approximation to the backward "L" shaped supply curve originally proposed by J.M. Keynes. Forty-eight members of this class are estimated using first British and then U.S. data. We then test the hypothesis that the Keynesian "L" shaped supply function is an acceptable description of the behavior of each of these economies and find that it is. This result has fairly obvious implications both for Phillips Curve and incomes policy research. [ABSTRACT FROM AUTHOR]