A classic result in the theory of labour contracts with asymmetric information is that underemployment results if and only if leisure is an inferior good. A classic result in models where unemployment occurs because of indivisibilities, including implicit contract models and some equilibrium macroeconomic models, is that unemployment is involuntary if and only if leisure is an inferior good. We introduce household production into otherwise standard versions of these models and show that this implies we can have underemployment in asymmetric-information models or involuntary unemployment in indivisible-labour models without assuming that leisure is inferior. /// Le rôle de la production domestique dans les modèles de chômage et de sous-emploi involontaires. Un résultat classique de la théorie des contrats de travail quand l'information est asymétrique est qu'il y a sous-emploi si et seulement si le loisir est un bien inférieur. Un résultat classique dans les modèles où il y a chômage à cause des indivisibilités (y compris les modèles de contrats implicites et quelques modèles d'équilibre macro-économiques) est que le chômage est involontaire si et seulement si le loisir est un bien inférieur. Les auteurs introduisent la production domestique dans les versions standards de ces modèles et montrent que cela a pour conséquence que l'on peut avoir sous-emploi dans les modèles où l'information est asymétrique ou chômage involontaire dans des modèles de marché du travail avec indivisibilités sans que le loisir soit un bien inférieur.
The Canadian Journal of Economics (CJE) is the journal of the Canadian Economics Association (CEA) and is published by Blackwell. The CJE has its roots in the journal Contributions to Canadian Economics, which began publication in the 1928 and was replaced in 1935 by the Canadian Journal of Economics and Political Science (CJEPS). In 1968, CJEPS divided into two parts: The Canadian Journal of Economics and the Canadian Journal of Political Science. The CJE and its forerunners have a long tradition as a leading general interest journal in economics and have published many classic papers in economics including, for example, Paul Samuelson's classic 1939 paper on the gains from trade and early work by Robert Mundell related to optimum currency areas. The CJE seeks to maintain and enhance its position as the leading economics journal based in Canada and as a major internationally recognized journal. It is receptive to high quality papers in any field of economics and from any source. In addition its editors recognize a particular responsibility regarding high quality empirical papers related to the Canadian economy. JSTOR provides a digital archive of the print version of The Canadian Journal of Economics. The electronic version of The Canadian Journal of Economics is available at http://www.interscience.wiley.com. Authorized users may be able to access the full text articles at this site.
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