Title of article
Non-existence of market-clearing wages when the output market is imperfectly competitive
Author/Authors
Leo Kaas، نويسنده , , Paul Madden، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2004
Pages
8
From page
175
To page
182
Abstract
In a sector in which oligopolistic firms face a sector-specific labour supply constraint, there may be no market-clearing wage. Instead, at some wages, there can be two equilibria, one with involuntary unemployment and one with unfilled vacancies.
Keywords
Involuntary unemployment , Multiple equilibria , Imperfect competition
Journal title
Economics Letters
Serial Year
2004
Journal title
Economics Letters
Record number
435466
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