Kinky Perceived Demand Curves and Keynes-Negishi Equilibria

Jacques H. Dreze and P. Jean-Jacques Herings ()

No 35, Research Memoranda from Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization

Abstract: 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.

Keywords: monetary economics (search for similar items in EconPapers)
Date: 2007

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Related works:
Working Paper: Kinky perceived demand curves and Keynes-Negishi equilibria (2007)
Working Paper: Kinky perceived demand curves and Keynes-Negishi equilibria (2007)
Journal Article: Kinky perceived demand curves and Keynes-Negishi equilibria (2008)
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Persistent link: http://EconPapers.repec.org/RePEc:dgr:umamet:2007035

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