<section name="raw">
    <SEQUENTIAL>
      <record key="001" att1="001" value="LIB911063307" att2="LIB911063307">001   LIB911063307</record>
      <field key="037" subkey="x">englisch</field>
      <field key="050" subkey="x">Forschungsbericht</field>
      <field key="076" subkey="">Ökonomie</field>
      <field key="079" subkey="y">http://www.ihs.ac.at/publications/eco/es-68.pdf</field>
      <field key="079" subkey="z">Kaas, Leo - et al., Equilibrium Involuntary Unemployment under Oligempory (pdf)</field>
      <field key="079" subkey="y">http://ideas.repec.org/p/ihs/ihsesp/68.html</field>
      <field key="079" subkey="z">Institute for Advanced Studies. Economics Series; 68 (RePEc)</field>
      <field key="100" subkey="">Kaas, Leo</field>
      <field key="103" subkey="">Department of Economics and Finance, Institute for Advanced Studies, Vienna</field>
      <field key="104" subkey="a">Madden, Paul</field>
      <field key="107" subkey="">School of Economic Studies, Manchester University, UK</field>
      <field key="331" subkey="">Equilibrium Involuntary Unemployment under Oligempory</field>
      <field key="403" subkey="">1. Ed.</field>
      <field key="410" subkey="">Wien</field>
      <field key="412" subkey="">Institut für Höhere Studien</field>
      <field key="425" subkey="">1999, June</field>
      <field key="433" subkey="">28 pp.</field>
      <field key="451" subkey="">Institut für Höhere Studien; Reihe Ökonomie; 68</field>
      <field key="451" subkey="h">Kunst, Robert M. (Ed.) ; Fisher, Walter (Ed.) ; Ritzberger, Klaus (Ed.)</field>
      <field key="461" subkey="">Economics Series</field>
      <field key="517" subkey="c">from the Table of Contents: Introduction; The model; The equilibria; Robustness; Conclusions; Appendix;</field>
      <field key="544" subkey="">IHSES 68</field>
      <field key="700" subkey="">D43</field>
      <field key="700" subkey="">E24</field>
      <field key="720" subkey="">Involuntary unemployment</field>
      <field key="720" subkey="">Multi-stage game</field>
      <field key="720" subkey="">Imperfect competition</field>
      <field key="753" subkey="">Abstract: We show that equilibrium involuntary unemployment emerges in a multi-stage game model where all market power resides</field>
      <field key="wit" subkey="h">firms, on both the labour and the output market. Firms decide wages, employment, output and prices, and under constant</field>
      <field key="ret" subkey="u">rns there exists a continuum of subgame perfect equilibria involving unemployment. A firm does not undercut the equilibrium</field>
      <field key="wag" subkey="e">since then high wage firms would attract its workers, thus forcing the low wage firm out of both markets. Full employment</field>
      <field key="equ" subkey="i">libria may also exist, but only the involuntary unemployment equilibria are robust to decreasing returns.;</field>
    </SEQUENTIAL>
  </section>