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Imperfect Competition, multiple equilibria and unemployment policy

Manning, Alan (1990) Imperfect Competition, multiple equilibria and unemployment policy. Economic Journal, 100 (400). pp. 151-162. ISSN 1468-0297

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Abstract

This paper takes a simple imperfectly competitive macro model with increasing returns and shows how it can lead to nonexistence or multiplicity of equilibria. The consequences for government policy toward unemployment are explored and shown to be very different from the traditional model. It is argued that a multiple equilibrium model is an attractive possible explanation of the behavior of U.K. unemployment in the 1980s. Copyright 1990 by Royal Economic Society.

Item Type: Article
Official URL: http://www.res.org.uk/economic/economichome.asp
Additional Information: © 1990 The Economic Journal
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
Sets: Departments > Economics
Research centres and groups > Centre for Economic Performance (CEP)
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 03 May 2011 15:16
URL: http://eprints.lse.ac.uk/35576/

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