Kinky Perceived Demand Curves and Keynes-Negishi Equilibria∗
نویسندگان
چکیده
The label “Keynes-Negishi equilibria” is attached here to equilibria in a monetary economy with imperfectly competitive product and labor markets where business firms and labor unions hold demand perceptions with kinks as posited in Negishi’s 1979 book Microeconomic Foundations of Keynesian Macroeconomics. Such equilibria are defined in a general equilibrium model, and shown to exist. Methodological implications are briefly discussed in a concluding section.
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