BATYRA, Anna; VROEY, Michel DE - Institut de Recherche Économique et Sociale (IRES), … - 2009
The notion of frictional unemployment first arose in the writings of Beveridge, Pigou and Hicks. Why did it fail at the … unemployment result in particular. We make our claim in three steps. First, we make explicit the trade-organization assumptions … underpinning Marshall’s equilibrium theory. Our second step is a study of the attempts at introducing unemployment in a Marshallian …