Unemployment and Wage Rigidity when Labor Supply is a Household Decision
AbstractThe present paper formally models household labor supply decisions and establishes sufficient conditions established, such as the possibility of multiple equilibria in the labor market and how the announcement of a minimum wage policy can result in an overall lowering of wages and also give rise to an equilibirum which display, simultaneously, excess demand and excess supply of labor.
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Bibliographic InfoPaper provided by California Irvine - School of Social Sciences in its series Papers with number 00-01-11.
Length: 48 pages
Date of creation: 2000
Date of revision:
Contact details of provider:
Postal: UNIVERSITY OF CALIFORNIA IRVINE, SCHOOL OF SOCIAL SCIENCES, IRVINECALIFORNIA 91717 U.S.A.
LABOUR ; SUPPLY ; WAGES ; UNEMPLOYMENT;
Other versions of this item:
- Basu, Kaushik & Genicot, Garance & Stiglitz, Joseph E., 2000. "Unemployment and Wage Rigidity When Labor Supply Is a Household Decision," Working Papers 00-10, Cornell University, Center for Analytic Economics.
- D10 - Microeconomics - - Household Behavior - - - General
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
- K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law
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