Demand uncertainty , mismatch , and ( un ) employment ∗
نویسنده
چکیده
A finite number of heterogeneous firms facing demand-induced price fluctuations imperfectly compete for heterogeneous workers. Because firms must commit to wages and employment before the realization of product price, they exhibit a risk-averse behavior. It is then shown that unemployment may arise in equilibrium because of the combination of uncertainty on product price and mismatch between workers’ skills and firms’ job requirements.
منابع مشابه
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