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

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.

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Year of publication:	2004
Authors:	Kaas, Leo ; Madden, Paul
Publisher:	Universität Konstanz / Fachbereich Wirtschaftswissenschaften. Fachbereich Wirtschaftswissenschaften
Subject:	Involuntary unemployment \| Imperfect competition \| Multiple equilibria

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Type of publication:	Article
Language:	English
Notes:	First publ. in: Economics Letters 84 (2004), 2, pp. 175-182
Source:	BASE

Persistent link: https://www.econbiz.de/10009471635