JOURNAL ARTICLE

INDIVISIBLE LABOR SUPPLY AND INVOLUNTARY UNEMPLOYMENT: MONOPOLISTIC COMPETITION MODEL.

  • Published In: Singapore Economic Review, 2023, v. 68, n. 6. P. 1953 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: TANAKA, YASUHITO 3 of 3

Abstract

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. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Singapore Economic Review. 2023/12, Vol. 68, Issue 6, p1953
  • Document Type:Article
  • Subject Area:Economics
  • Publication Date:2023
  • ISSN:0217-5908
  • DOI:10.1142/S0217590820500307
  • Accession Number:174823510
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