The cyclical behavior of wages and prices was a central topic in trade cycle analysis on the eve of the Second World War. Keynes and Harrod independently referred in the same year to the supposed countercyclicality of real wages, a feature that was contested soon after, on empirical grounds, by...

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...

La théorie de l'équilibre général walrasien possède un pouvoir prédictif, du moins tant que l'on veut bien s'en tenir a des environnements en information complète, en l'absence de pouvoirs de marché et où il est connaissance commune que les marchés doivent s'équilibrer. On examine ici...

[ger] Auswirkung von Arbeitslosengeld auf die absolute und relative Dauer der Arbeitslosigkeit, . von Jean-Pierre Florens, Louis-André Gérard-Varet, Patrick Werquin.. . Die Theorie der Arbeitssuche rechtfertigt die KonstruktionpartiellerGleichgewichtsmodelle in reduzierter Form für den...

We argue that for the case of heterogeneous commodities with infrequent tradings, such as paintings, it is relevant to base a price index on hedonic regressions using all sales and not resales only. To support this conclusion we construct a price index for paintings by Impressionists and their...

The convergence of game theory and epistemic logic has been in progress for two decades and this book explores this further by gathering specialists from different professional communities, i.e., economics, mathematics, philosophy, and computer science. This volume considers the issues of...

We present a new version of the overtaking criterion, which we call generalized time-invariant overtaking. The generalized time-invariant overtaking criterion (on the space of infinite utility streams) is defined by extending proliferating sequences of complete and transitive binary relations...

Oligopolistic competition is analyzed in a complete information multi-principal common agency framework, where principals are firms supplying differentiated goods and the agent is a representative consumer. We first propose a canonical formulation of common agency games, and a parameterization...