The nature of unemployment in segmented labor markets |
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| Institution: | 1. Department of Emergency Medicine, University of Pittsburgh, Pittsburgh, PA, USA;2. Department of Critical Care Medicine, University of Pittsburgh, Pittsburgh, PA, USA;3. Department of Neurology, University of Pittsburgh, Pittsburgh, PA, USA;1. Department of Civil and Environmental Engineering, The Hong Kong University of Science and Technology, Clear Water Bay, Kowloon, Hong Kong, China;2. School of Environmental Science and Engineering, Sun Yat-sen University, Guangzhou, China;3. Guangdong Provincial Key Laboratory of Environmental Pollution Control and Remediation Technology, Guangzhou, China;4. SYSU-HKUST Joint Research Centre for Innovative Environmental Technology, Sun Yat-sen University, Guangzhou, China;1. Department of Dermatology, Weill Cornell Medicine, New York, New York;2. Department of Dermatology, Wake Forest University, Winston-Salem, North Carolina |
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| Abstract: | In a segmented labor market, if the total supply of labor is variable, some of the resulting equilibrium unemployment is involuntary, in the sense that it consists of workers with reservation wages below the lowest offered wage. |
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