Monopolistic Competition And Search Unemployment
AbstractIn this paper the monopolistic competition model of Dixit and Stiglitz for the goods market and the search unemployment model of Pissarides are combined. The Pissarides part loses its Walrasian goods market and the Dixit-Stiglitz part loses its Walrasian labour market. Pissarides' results now depend on the degree of competition. In the Dixit-Stiglitz part the size and number of firms as well as aggregate output now depend on aggregate hiring costs, tightness and unemployment, while real wages are not fixed. Some partial results of comparative static properties of the original models survive. New results concerning the effects of changes in labour (goods) market parameters on goods markets (the labour market) variables are obtained and related to the literature on macroeconomic theory with endogenous unemployment and imperfect competition, empirical results and policy issues. Copyright Blackwell Publishing Ltd 2005.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Metroeconomica.
Volume (Year): 56 (2005)
Issue (Month): 3 (07)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0026-1386
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- Devashish Mitra & Priya Ranjan, 2007.
"Offshoring and Unemployment,"
NBER Working Papers
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- Vesna Stavrevska, 2011. "The efficiency wages perspective to wage rigidity in the open economy: a survey," International Journal of Manpower, Emerald Group Publishing, vol. 32(3), pages 273-299, July.
- Philipp vom Berge, 2013. "Search unemployment and new economic geography," The Annals of Regional Science, Springer, vol. 50(3), pages 731-751, June.
- vom Berge, Philipp, 2011. "Search Unemployment and New Economic Geography," University of Regensburg Working Papers in Business, Economics and Management Information Systems 454, University of Regensburg, Department of Economics.
- Antonio Scialà & Riccardo Tilli, 2007. "Financing unemployment benefits by goods market competition: fiscal policy and deregulation with market imperfections," "Marco Fanno" Working Papers 0047, Dipartimento di Scienze Economiche "Marco Fanno".
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