Involuntary Unemployment and Implicit Contracts
用信息不对称解释非自愿失业，定义其为事后存在交易收益却未实现的状态，并构建劳动契约模型，证明休闲的劣等性是非自愿失业存在的充要条件。
This paper provides an explanation of involuntary umemployment arising as a consequence of asymmetric information between firms and workers. Involuntary unemployment is defined as a situation where ex post gains to trade exist. A model of labor contracts is developed where the allocations are not ex post optimal. It is shown that inferiority of leisure is a necessary and sufficient condition for the existence of involuntary unemployment.