非自発的失業の存在について：世代重複完全競争モデルを用いて

We show the existence of involuntary unemployment without assuming wage rigidity. We derive involuntary unemployment by considering utility maximization of consumers and profit maximization of firms in an overlapping generations model under perfect competition with decreasing or constant returns to scale technology. We show that there exists involuntary unemployment even when labor supply is divisible. We consider homothetic utility functions of consumers including log-linear function.