Koskela, Erkki (contributor); Stenbacka, Rune (contributor) - 2005
unemployment. The optimal profit share, which the firms use as a wage-moderating commitment device, is below the bargaining power … reduce equilibrium unemployment, because it induces both higher wage mark-ups and lower optimal profit shares. …
PRODUCT MARKET COMPETITION, PROFIT
SHARING AND EQUILIBRIUM UNEMPLOYMENT
ERKKI KOSKELA
RUNE …