Recent Post-Keynesian proposals for an economic policy to overcome stagnation and mass unemployment also stress the …

independence and labour market institutions on macroeconomic performance are considered and the perspectives for employ¬ment and … to prevent the rate of unemployment from falling below the NAIRU. But price stability also depends on labour market … institutions. Horizontally and vertically co-ordinated wage bargaining allows for a considerable reduction of the NAIRU and hence …

unemployment is primarily caused by labour market rigidities, i.e. social institutions and regulations which prevent “market …The paper questions the predominant view on unemployment and wages in the European Un-ion according to which high … decades, no strictly inverse relationship between real wage growth and unemployment can be found. On the contrary …

decision makers. These responses, in turn influenced by institutions and instrumental freedoms, ultimately affect the dynamics …

operative outline concentrates on the role of instrumental freedoms and institutions, and it is based on the traditional themes … instrumental freedoms. We eventually map each set of variables in order to point out how instrumental freedoms and institutions …