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On monopolistic competition and involuntary unemployment

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  • d’ASPREMONT, C.
  • DOS SANTOS FERREIRA, R.
  • GERARD-VARET, L.-A.

Abstract

In a simple temporary general equilibrium model, it is shown that, if the number of firms is small, imperfect price competition in the markets for goods may be responsible for the existence of unemployment at any given positive wage. In the authors' examples involving two firms facing their "true" demand curves, total monopolistic labor demand remains bounded as the wage rate goes to zero and unemployment prevails for a sufficiently large inelastic labor supply. In the competitive case, total labor demand would go to infinity and intersect labor supply at a positive wage. Copyright 1990, the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

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Bibliographic Info

Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1986035.

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Date of creation: 01 Jan 1986
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Handle: RePEc:cor:louvco:1986035

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Cited by:
  1. Mario Amendola & Jean-Luc Gaffard & Francesco Saraceno, 2001. "Wage Flexibility and Unemployment : the Keynesian Perspective Revisited," Sciences Po publications 2001-02, Sciences Po.
  2. André Zylberberg, 1990. "Salaires et emploi dans une économie de partage," Économie et Prévision, Programme National Persée, vol. 92(1), pages 153-160.
  3. Reto Foellmi & Josef Zweimüller, 2010. "Mass versus Exclusive Goods, and Formal-Sector Employment," Diskussionsschriften dp1005, Universitaet Bern, Departement Volkswirtschaft.
  4. Reto Foellmi & Joseph Zweimüller, 2006. "Mass Consumption, Exclusion, and Unemployment," IEW - Working Papers 296, Institute for Empirical Research in Economics - University of Zurich.
  5. D'ASPREMONT, Claude & DOS SANTOS, R. & GÉRARD-VARET, Louis-André, 1992. "General equilibrium concepts under imperfect competition: a Cournotion approach," CORE Discussion Papers 1992057, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  6. Oliver Budzinski & Jürgen-Peter Kretschmer, 2009. "Horizontal Mergers, Involuntary Unemployment, and Welfare," MAGKS Papers on Economics 200907, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  7. Murata, Yasusada, 2002. "Rural-urban interdependence and industrialization," Journal of Development Economics, Elsevier, vol. 68(1), pages 1-34, June.
  8. repec:spo:wpecon:info:hdl:2441/6763 is not listed on IDEAS
  9. Maarten C.W. Janssen, 2006. "Microfoundations," Tinbergen Institute Discussion Papers 06-041/1, Tinbergen Institute.
  10. Pasquale Commendatore & Ingrid Kubin, 2009. "Dynamic effects of regulation and deregulation in goods and labour markets," Oxford Economic Papers, Oxford University Press, vol. 61(3), pages 517-537, July.
  11. Julien, Ludovic A., 2011. "Unemployment equilibrium and economic policy in mixed markets," Economic Modelling, Elsevier, vol. 28(4), pages 1931-1940, July.
  12. Amedeo Panci, 1999. "Multiple equilibria: coordination failure and endogenous cycle," Working Papers 30, University of Rome La Sapienza, Department of Public Economics.

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