Effective Demand and Unemployment
AbstractThe coordination of production and consumption decisions is analysed in a static model where the interdependence between production, income and demand is explicitly modelled. With imperfect competition and non-convex production technologies it is shown that there exists a zero pure profit equilibrium with a positive level of employment and possible involuntary employment. Finally it is shown how to arrange a form of external intervention so as to ensure full employment.
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Bibliographic InfoPaper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 287.
Length: 17 pages
Date of creation: 1987
Date of revision:
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