Kinky perceived demand curves and Keynes–Negishi equilibria

Jacques Dreze and P. Jean-Jacques Herings

International Journal of Economic Theory, 2008, vol. 4, issue 2, 207-246

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.

Date: 2008
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https://doi.org/10.1111/j.1742-7363.2008.00072.x

Related works:
Working Paper: Kinky perceived demand curves and Keynes-Negishi equilibria (2009)
Working Paper: Kinky perceived demand curves and Keynes-Negishi equilibria (2007)
Working Paper: Kinky perceived demand curves and Keynes-Negishi equilibria (2007)
Working Paper: Kinky perceived demand curves and Keynes-Negishi equilibria (2007)
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