Involuntary Unemployment and Income Feedback Effects

Abstract : We study the link between involuntary unemployment and income feedback effects in a model with an imperfect product market. We provide a condition based on the demand such that full employment prevails when income feedback effects are neglected, while involuntary unemployment appears when they are integrated.
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Submitted on : Friday, June 28, 2019 - 6:41:34 AM
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Laurence Lasselle, Serge Svizzero. Involuntary Unemployment and Income Feedback Effects. 1998. ⟨hal-02167642⟩

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