Laurence Lasselle, Serge Svizzero
Abstract
We study the link between involuntary unemployment and income feedback effects in a model with an imperfect product market. We provide a condition based on the demand such that full employment prevails when income feedback effects are neglected, while involuntary unemployment appears when they are integrated.
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We study the link between involuntary unemployment and income feedback effects in a model with an imperfect product market. We provide a condition based on the demand such that full employment prevails when income feedback effects are neglected, while involuntary unemployment appears when they are integrated.
Key concepts: Involuntary unemployment, Unemployment, Economics, Imperfect, Labour economics, Basic income, Product (mathematics), Macroeconomics