Erschienen in:IMF Working Paper, Vol. , pp. 1-20, 1990
Umfang:
1 Online-Ressource (20 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.884713
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 1990 erstellt
Beschreibung:
The paper proves four theorems in an n-sector model of a segmented labor market, with search costs, and a continuum of workers with different reservation wages, who can apply to any number of sectors. The main conclusions are that: (i) an equilibrium with unemployment always exists; and (ii) some of the unemployment is involuntary, in the sense that it consists of workers with reservation wages below the equilibrium wage in the secondary market. These conclusions hold in the case of both separate and non-separate markets