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| Author: | Gali, J. |
| Title: | Unemployment in dynamic general equilibrium economies |
| Journal: | European Economic Review
1996 : APR, VOL. 40:3-5, p. 839-845 |
| Index terms: | UNEMPLOYMENT IMPERFECT COMPETITION BUSINESS CYCLES |
| Language: | eng |
| Abstract: | The paper discusses and presents a tractable approach to modelling unemployment fluctuations in dynamic general equilibrium economies with non-Walrasian labour markets. The framework, though only technology shocks have been considered, could easily be augmented to allow for other sources of fluctuations, incl. shocks to tastes, fiscal policy etc. The equilibrium of the model can be solved using any of the methods available for non-optimal economies. |
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