Manning, Alan (1990) Imperfect Competition, multiple equilibria and unemployment policy. Economic Journal, 100 (400). pp. 151-162. ISSN 1468-0297
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 |
| Date Deposited: | 03 May 2011 15:16 |
| URL: | http://eprints.lse.ac.uk/35576/ |
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