We show the existence of involuntary unemployment without assuming wage rigidity. We derive involuntary unemployment by … competition with decreasing or constant returns to scale technology. We show that there exists involuntary unemployment even when …

We show the existence of involuntary unemployment without assuming wage rigidity. We derive involuntary unemployment by … competition with constant returns to scale technology. We show that there exists involuntary unemployment in a case where labor … supply is indivisible. We also show that reduction of nominal wages can not rescue involuntary unemployment. …

We show the existence of involuntary unemployment without assuming wage rigidity. We derive involuntary unemployment by … competition with constant returns to scale technology. We show that there exists involuntary unemployment even when labor supply … is divisible. We also show that reduction of nominal wages can not rescue involuntary unemployment. …

We show the existence of involuntary unemployment without assuming wage rigidity. We derive involuntary unemployment by … competition with constant returns to scale technology. We show that there exists involuntary unemployment even when labor supply … is divisible. We also show that reduction of nominal wages can not rescue involuntary unemployment. In a two …

We show the existence of involuntary unemployment without assuming wage rigidity. We derive involuntary unemployment by … competition with constant returns to scale technology. We show that there exists involuntary unemployment in a case where labor … supply is indivisible. We also show that reduction of nominal wages can not rescue involuntary unemployment. In a two …