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INDIVISIBLE LABOR SUPPLY AND INVOLUNTARY UNEMPLOYMENT: MONOPOLISTIC COMPETITION MODEL
The Singapore Economic Review ( IF 1.5 ) Pub Date : 2020-08-08 , DOI: 10.1142/s0217590820500307
YASUHITO TANAKA 1
Affiliation  

This paper is an attempt to provide a micro-theoretical basis for Keynesian economics while maintaining as much of the neoclassical framework as possible, such as utility maximization for consumers and profit maximization for firms. We show the existence of involuntary unemployment without assuming wage rigidity when labor supplies of individuals are indivisible. We derive involuntary unemployment using an overlapping generations model under monopolistic competition with constant returns to scale technology and indivisible labor supply.

中文翻译:

不可分割的劳动力供给和非自愿失业:垄断竞争模式

本文试图为凯恩斯经济学提供微观理论基础,同时尽可能多地保留新古典主义框架,例如消费者的效用最大化和企业的利润最大化。当个人的劳动力供给不可分割时,我们在不假设工资刚性的情况下证明了非自愿失业的存在。我们使用垄断竞争下的重叠世代模型推导出非自愿失业,该模型具有恒定的规模技术回报和不可分割的劳动力供应。
更新日期:2020-08-08
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