Demand uncertainty, mismatch and (un)employment
Heterogeneous firms facing demand-induced price fluctuations imperfectly compete for heterogeneous workers. It is shown that unemployment may arise in equilibrium because of the combination of uncertainty on product price and mismatch between workers’ skills and firms’ job requirements.
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References listed on IDEAS
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- Lars Ljungqvist & Thomas J. Sargent, 1998.
"The European Unemployment Dilemma,"
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1463, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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NBER Working Papers
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