Non-existence of market-clearing wages when the output market is imperfectly competitive

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2004
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Madden, Paul
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Economics Letters. 2004, 84(2), pp. 175-182. Available under: doi: 10.1016/j.econlet.2004.01.010
Zusammenfassung

In a sector in which oligopolistic firms face a sector-specific labour supply constraint, there may be no marketclearing wage. Instead, at some wages, there can be two equilibria, one with involuntary unemployment and one with unfilled vacancies.

Zusammenfassung in einer weiteren Sprache
Fachgebiet (DDC)
330 Wirtschaft
Schlagwörter
Involuntary unemployment, Imperfect competition, Multiple equilibria
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Zitieren
ISO 690KAAS, Leo, Paul MADDEN, 2004. Non-existence of market-clearing wages when the output market is imperfectly competitive. In: Economics Letters. 2004, 84(2), pp. 175-182. Available under: doi: 10.1016/j.econlet.2004.01.010
BibTex
@article{Kaas2004Nonex-12140,
  year={2004},
  doi={10.1016/j.econlet.2004.01.010},
  title={Non-existence of market-clearing wages when the output market is imperfectly competitive},
  number={2},
  volume={84},
  journal={Economics Letters},
  pages={175--182},
  author={Kaas, Leo and Madden, Paul}
}
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