Amendola, Mario; Gaffard, Jean-Luc; Saraceno, Francesco - Centre de recherche en Économie (OFCE), Sciences … - 2001
cumulative process propels the economy far away the full employment equilibrium. The consideration of co-ordination failures in … framework.This paper is an attempt to focus on the problems of intertemporal co-ordination arising within the context of a … generalize the original Keynesian intuition. It shows in fact that unemployment emerges as the result of a lack of co-ordination …