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 …

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 Union according to which high … decades, no strictly inverse relationship between real wage growth and unemployment can be found. On the contrary …

. In the long run, however, the NAIRU will follow actual unemployment and is therefore also dependent on the forces … an .anti-growth-bias. of the ECB. Therefore, the Euro area was plagued with nominal wage restraint, high unemployment and …

and labour market institutions on macroeconomic performance are considered and the perspectives for employment 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 …

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 …

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