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Unemployment in a Cournot Oligopoly Model with Ford Effects

1989; Volume: 55; Issue: 1 Linguagem: Inglês

10.1017/s0770451800031572

1782-1495

Claude d’Aspremont, Rodolphe Dos Santos Ferreira, Louis‐André Gérard‐Varet,

Political Economy and Marxism

Summary A simple general equilibrium model of imperfect competition is introduced with special attention given to the labour market. An extended Cournot equilibrium is defined for any money wage taken as given by the producers. Under some assumptions involuntary unemployment may arise, that is unemployment whatever the given money wage. Specific examples are considered.