The high unemployment trap

Gilles Saint-Paul

doi:10.2307/2118449

The high unemployment trap

Gilles Saint-Paul

Economics

Research output: Contribution to journal › Article › peer-review

Abstract

A model of the labor market under firing restrictions and endogenous quits is constructed. It is shown that in the spirit of Blanchard and Summers, the model can generate multiple equilibria for plausible parameter values, with a low quits/high unemployment equilibrium coexisting with a high quits/low unemployment equilibrium.

Original language	English (US)
Pages (from-to)	527-550
Number of pages	24
Journal	Quarterly Journal of Economics
Volume	110
Issue number	2
DOIs	https://doi.org/10.2307/2118449
State	Published - May 1995

ASJC Scopus subject areas

Economics and Econometrics

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10.2307/2118449

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title = "The high unemployment trap",

abstract = "A model of the labor market under firing restrictions and endogenous quits is constructed. It is shown that in the spirit of Blanchard and Summers, the model can generate multiple equilibria for plausible parameter values, with a low quits/high unemployment equilibrium coexisting with a high quits/low unemployment equilibrium.",

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The high unemployment trap

Abstract

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