Rathelot, Roland; OUVRARD, J.-F. - Département des Études Économiques d'Ensemble (D3E), … - 2006
could lead to more unemployment. This long run effect vanishes under the Phillips specification. On the whole, the final … effect upon unemployment depends on agents' bargaining preferences during wage negotiations: the further from labor cost they … negotiate (thus the closer to net income), the higher the risk that demographic change ultimately leads to more unemployment. …