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Moneda, intercambios efectivos y desempleo keynesiano

Ludovic Julien

Lecturas de Economía, 2003, issue 59, 149-176

Abstract: This paper aims at building up a simple model of a decentralized monetary economy with Keynesian unemployment. The existence of involuntary unemployment is based on the organization of trades. Money plays a critical role in coordinating decentralized transactions in equilibrium and in disequilibrium. Without perfect expectations, trades occur out of equilibrium. However, Keynesian unemployment is essentially an equilibrium phenomenom

Keywords: involuntary unemployment; equilibrium; Keynesian unemployment (search for similar items in EconPapers)
JEL-codes: B20 E12 E40 (search for similar items in EconPapers)
Date: 2003
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