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

Kaas, Leo; Madden, Paul

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

Files

12.pdf(92.8 KB)

Date

2004

Authors

Kaas, Leo

Madden, Paul

Publication type

Journal article

Published in

Economics Letters ; 84 (2004), 2. - pp. 175-182

Abstract

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.

Subject (DDC)

330 Economics

Keywords

Involuntary unemployment,Imperfect competition,Multiple equilibria

Cite This

ISO 690

KAAS, Leo, Paul MADDEN, 2004. Non-existence of market-clearing wages when the output market is imperfectly competitive. In: Economics Letters. 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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