IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this paper

Kinky perceived demand curves and Keynes-Negishi equilibria

Author Info

  • Jacques H., DREZE
  • Jean-Jacques, HERINGS

Abstract

The label “Keynes-Negishi equiibria” is attached here to equilibria in a monetary economy with imperfectly competitive product and labor markets where business firms and labor unions hold demand perceptions with kinks - as posited in Negishi’s 1979 book Microeconomic Foundations of Keynesian Macroeconomics. Such equilibria are defined in a general equilibrium model, and shown to exist. Methodological implications are briefly discussed in a concluding section.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://sites.uclouvain.be/econ/DP/IRES/2007-37.pdf
Download Restriction: no

Paper provided by Université catholique de Louvain, Département des Sciences Economiques in its series Discussion Papers (ECON - Département des Sciences Economiques) with number 2007037.

as
in new window

Length: 50
Date of creation: 01 Dec 2007
Date of revision:
Handle: RePEc:ctl:louvec:2007037
Contact details of provider: Postal:
Place Montesquieu 3, 1348 Louvain-la-Neuve (Belgium)

Fax: +32 10473945
Web page: http://www.uclouvain.be/econ
Email:


More information through EDIRC

Keywords: Equilibrium; imperfect competition; perceived demands; kinky demand; princing rules; union wage model; union objectives; cash-in-advance;

Other versions of this item:

Find related papers by JEL classification:
  • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
  • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
  • J51 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Trade Unions: Objectives, Structure, and Effects

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Calmfors, Lars, 1982. " Employment Policies, Wage Formation and Trade Union Behavior in a Small Open Economy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 84(2), pages 345-73.
  2. Douglas H. Blair & David L. Crawford, 1984. "Labor Union Objectives and Collective Bargaining," The Quarterly Journal of Economics, Oxford University Press, vol. 99(3), pages 547-566.
  3. Blanchard, Olivier Jean & Kiyotaki, Nobuhiro, 1987. "Monopolistic Competition and the Effects of Aggregate Demand," American Economic Review, American Economic Association, vol. 77(4), pages 647-66, September.
  4. DREZE, Jacques & GOLLIER, Christian, . "Risk sharing on the labour market and second-best wage rigidities," CORE Discussion Papers RP 1073, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. Dehez, Pierre & Dreze, Jacques, 1988. "Competitive equilibria with quantity-taking producers and increasing returns to scale," Journal of Mathematical Economics, Elsevier, vol. 17(2-3), pages 209-230, April.
  6. DEHEZ, Pierre & DRÈZE, Jacques H. & SUZUKI, Takashi, . "Imperfect competition à la Negishi, also with fixed costs," CORE Discussion Papers RP 1623, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  7. Herings, P.J.J. & Polemarchakis, H.M., 1999. "Pareto Improving Price Regulation when the Asset Market is Incomplete," Discussion Paper 1999-30, Tilburg University, Center for Economic Research.
  8. Citanna, Alessandro & Cres, Herve & Dreze, Jacques & Herings, P. Jean-Jacques & Villanacci, Antonio, 2001. "Continua of underemployment equilibria reflecting coordination failures, also at Walrasian prices," Journal of Mathematical Economics, Elsevier, vol. 36(3), pages 169-200, December.
  9. Arnsperger, Christian & de la Croix, David, 1993. "Bargaining and equilibrium unemployment : Narrowing the gap between New Keynesian and 'disequilibrium' theories," European Journal of Political Economy, Elsevier, vol. 9(2), pages 163-190, May.
  10. Dreze, Jacques H., 1997. "Walras--Keynes equilibria coordination and macroeconomics," European Economic Review, Elsevier, vol. 41(9), pages 1735-1762, December.
  11. Stiglitz, Joseph E, 1984. "Price Rigidities and Market Structure," American Economic Review, American Economic Association, vol. 74(2), pages 350-55, May.
  12. Oswald, Andrew J, 1979. "Wage Determination in an Economy with Many Trade Unions," Oxford Economic Papers, Oxford University Press, vol. 31(3), pages 369-85, November.
  13. Oliver Hart, 1982. "A Model of Imperfect Competition with Keynesian Features," The Quarterly Journal of Economics, Oxford University Press, vol. 97(1), pages 109-138.
  14. Pïerre DEHEZ & Jacques H. DREZE & Takashi SUZUKI, 2002. "Imperfect Competition à la Negishi also with Fixed Costs," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002044, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  15. Dierker, Egbert & Guesnerie, Roger & Neuefeind, Wilhelm, 1985. "General Equilibrium When Some Firms Follow Special Pricing Rules," Econometrica, Econometric Society, vol. 53(6), pages 1369-93, November.
  16. Jacques H.DREZE, 2001. "On the Macroeconomics of Uncertainty and Incomplete Markets," Discussion Papers (REL - Recherches Economiques de Louvain) 2001011, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  17. Dreze, Jacques H., 1979. "Demand estimation, risk-aversion and sticky prices," Economics Letters, Elsevier, vol. 4(1), pages 1-6.
  18. Oswald, Andrew J, 1985. " The Economic Theory of Trade Unions: An Introductory Survey," Scandinavian Journal of Economics, Wiley Blackwell, vol. 87(2), pages 160-93.
Full references (including those not matched with items on IDEAS)

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

as in new window


Cited by:

  1. Hiroshi Yoshikawa, 2011. "Stochastic Macro-equilibrium and A Microfoundation for the Keynesian Economics," CIRJE F-Series CIRJE-F-827, CIRJE, Faculty of Economics, University of Tokyo.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Access and download statistics

When requesting a correction, please mention this item's handle: RePEc:ctl:louvec:2007037. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anne DAVISTER-LOGIST)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.