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Preprints, Working Papers, ... Year : 2000

Imperfectly Competitive Business Cycles With Underemployment

Abstract

We investigate how imperfect competition affects the occurence and properties of endogenous business cycles with underemployment in an overlapping generations model. We consider a competitive product market in association with an imperfect labour market. The latter is presented in two variants. These differ from each other by the game-theoretical concepts used in the description of market equilibria, namely the cooperative concept of Nash-Bargaining and the noncooperative concept of Nash-Cournot. Although they are different, both cases admit the union-monopoly as a limit case. We show that the existence of cycles depends on the degree of market power. Our results are illustrated for specific preferences and technology.
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Dates and versions

hal-02166640 , version 1 (27-06-2019)

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  • HAL Id : hal-02166640 , version 1

Cite

Laurence Lasselle, Serge Svizzero. Imperfectly Competitive Business Cycles With Underemployment. 2000. ⟨hal-02166640⟩

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