This paper argues that in a growing economy unemployment can be the cause of goods markets failures, even if these are purely transitory. As the economy grows, new firms wish to enter products are accepted on the market, which we model as a purely transitory demand shock. It may take some time, however, until their products are accepted on the market, which we model as a purely transitory demand shock.
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Paper provided by European University Institute in its series Economics Working Papers with number
eco2000/17.
Length: 23 pages Date of creation: 2000 Date of revision: Handle: RePEc:eui:euiwps:eco2000/17
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Find related papers by JEL classification: E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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