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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- HAMILTON, Jonathan & THISSE, Jacques-François & ZENOU, Yves, "undated". "Wage competition with heterogeneous workers and firms," CORE Discussion Papers RP 1463, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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- Sandmo, Agnar, 1971. "On the Theory of the Competitive Firm under Price Uncertainty," American Economic Review, American Economic Association, vol. 61(1), pages 65-73, March.
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