The Role of Household Production in Models of Involuntary Unemployment and Underemployment
AbstractA classic result in the theory of labor contracts with asymmetric information is that underemployment results if and only if leisure is an inferior good. A classic result in models where unemployment occurs because of indivisibilities, including implicit contract models and some equilibrium macroeconomic models, is that unemployment is involuntary if and only if leisure is an inferior good. The authors introduce household production into otherwise standard versions of these models and show that this implies they can have underemployment in asymmetric-information models or involuntary unemployment in indivisible-labor models without assuming that leisure is inferior.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Canadian Economics Association in its journal Canadian Journal of Economics.
Volume (Year): 25 (1992)
Issue (Month): 3 (August)
Contact details of provider:
Postal: Canadian Economics Association Prof. Steven Ambler, Secretary-Treasurer c/o Olivier Lebert, CEA/CJE/CPP Office C.P. 35006, 1221 Fleury Est Montréal, Québec, Canada H2C 3K4
Web page: http://economics.ca/cje/
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Joao Gomes & Jeremy Greenwood & Sergio T. Rebelo, 2001.
RCER Working Papers
479, University of Rochester - Center for Economic Research (RCER).
- Pietro Garibaldi & Etienne Wasmer, 2005.
"Equilibrium Search Unemployment, Endogenous Participation and Labor Market Flows,"
Sciences Po publications
info:hdl:2441/8921, Sciences Po.
- Pietro Garibaldi & Etienne Wasmer, 2005. "Equilibrium Search Unemployment, Endogenous Participation, And Labor Market Flows," Journal of the European Economic Association, MIT Press, vol. 3(4), pages 851-882, 06.
- Garibaldi, Pietro & Wasmer, Etienne, 2003. "Equilibrium Search Unemployment, Endogenous Participation and Labour Market Flows," CEPR Discussion Papers 3986, C.E.P.R. Discussion Papers.
- Lilia Maliar & Serguei Maliar, 1999.
"- Differential Responses Of Labor Supply Across Productivity Groups,"
Working Papers. Serie AD
1999-22, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Maliar, Lilia & Maliar, Serguei, 2000. "Differential Responses of Labor Supply across Productivity Groups," Journal of Macroeconomics, Elsevier, vol. 22(1), pages 85-108, January.
- Benjamin Bridgman, 2013. "Home Productivity," BEA Working Papers 0091, Bureau of Economic Analysis.
- Andrew Atkeson & Patrick J. Kehoe, 1995. "Optimal social insurance, incentives, and transition," Working Papers 546, Federal Reserve Bank of Minneapolis.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Prof. Werner Antweiler).
If references are entirely missing, you can add them using this form.