We study the steady state with involuntary unemployment and fiscal policy to realize full-employment in a situation … with technical progress. Under involuntary unemployment the nominal wage rate may decline. Then, the prices of the goods …

We analyze involuntary unemployment based on consumers’ utility maximization and firms’ profit maximization behavior … of involuntary unemployment in that model with ongoing mominal wage rate decline (or deflation). Even if the nominal wage … rate declines, we have a steady state with involuntary unemployment and constant output and employment. We need budget …

We show the existence of involuntary unemployment based on consumers’ utility maximization and firms’ profit … seigniorage) to achieve full-employment under a situation with involuntary unemployment. Under constant prices we show the …-employment from a state with involuntary unemployment, we need budget deficit (Proposition 1). 2) If the full-employment state has …

Using two types of overlapping generations (OLG) model, we show that involuntary unemployment is in a Nash equilibrium … not decrease involuntary unemployment …

The existence of involuntary unemployment advocated by J. M. Keynes is a very important problem of the modern economic … theory. Using a three-generations overlapping generations model, we show that the existence of involuntary unemployment is … of involuntary unemployment further reduces employment. This instability is due to the negative real balance effect that …

In dynamic wage bargaining models it is usually assumed that individual unemployment benefits are a fraction of the … average wage level. In most countries, however, unemployment benefits are instead tied to the previous level of individually … wage-setting curve with outcomes under other unemployment compensation schemes. In particular, we show that the widely used …

In dynamic wage bargaining models it is usually assumed that individual unemployment benefits are a fraction of the … average wage level. In most countries, however, unemployment benefits are instead tied to the previous level of individually … wage-setting curve with outcomes under other unemployment compensation schemes. In particular, we show that the widely used …

In dynamic wage bargaining models it is usually assumed that individual unemployment benefits are a fraction of the … average wage level. In most countries, however, unemployment benefits are instead tied to the previous level of individually … wage-setting curve with outcomes under other unemployment compensation schemes. In particular, we show that the widely used …

In dynamic wage bargaining models it is usually assumed that individual unemployment benefits are a fraction of the … average wage level. In most countries, however, unemployment benefits are instead tied to the previous level of individually … wage-setting curve with outcomes under other unemployment compensation schemes. From this comparison it becomes evident how …