Involuntary Unemployment and the Existence of GDP Functions

We develop a simple general equilibrium model of production where, despite the existence of involuntary unemployment, non-equalized job rents are the only distortion. Hence, a standard GDP function exists. Unemployment results from either efficiency wage setting or wage bargaining

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Year of publication:	2003
Authors:	Albert, Max ; Meckl, Jürgen
Publisher:	[S.l.] : SSRN
Subject:	Arbeitslosigkeit \| Unemployment \| Nationaleinkommen \| National income \| Effizienzlohn \| Efficiency wages \| Produktionsfunktion \| Production function \| Verhandlungstheorie des Lohnes \| Collective bargaining theory

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Extent:	1 Online-Ressource (10 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Metroeconomica, Vol. 54, pp. 79-88, February 2003
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014080160