On Equilibrium in Monopolistic Competition with Endogenous Labor

We consider a model of monopolistic competition with several heterogeneous sectors and endogenous labor supply. For low (high) values of the labor supply elasticity, we show that there is always a unique equilibrium. For medium values of the labor supply elasticity, the set of equilibria (if non-empty) can comprise of several equilibria, with the number of equilibria bounded by the number of sectors.

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Year of publication:	2020
Authors:	Kushnir, Alexey ; Tarasov, Alexander ; Zubrickas, Robertas
Publisher:	Munich : Center for Economic Studies and Ifo Institute (CESifo)
Subject:	labor elasticity \| multiple equilibria \| stability

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Series:	CESifo Working Paper ; 8360
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1700717189 [GVK] hdl:10419/223432 [Handle] RePec:ces:ceswps:_8360 [RePEc]
Classification:	D43 - Oligopoly and Other Forms of Market Imperfection ; L13 - Oligopoly and Other Imperfect Markets
Source:	EconStor

Persistent link: https://www.econbiz.de/10012269430