Ebell, Monique (contributor); Ritschl, Albrecht (contributor) - 2007
fully microfounded
involuntary unemployment, in a model of monopolistic competition in the goods mar-
ket. Within this … equilibrium analysis of the 1920s. Section V
concludes.
II. Monopolistic competition and labor market frictions
In order to …
rw rV
V
r χ
+−
=
+
(4)
C. Monopolistic Competition
We assume the standard Dixit-Stiglitz monopolistic …