fair wages. The model is used inter alia to analyse the labour market effects of changes in unemployment benefits and the …In this paper we develop a model of a multi-sector multi-factor small open economy with involuntary unemployment due to …

Foreign Capital, National Welfare and Unemployment in a Fair Wage Model …

unemployment across a sample of OECD countries. Using an incomplete markets variant of the fair wage real business cycle model …, increases in the gross replacement rate of public unemployment insurance are shown to increase the volatility of employment, and … decrease the volatility of real wages, ceteris paribus. For a sample of 14 OECD countries over the period 1985-2005, the gross …

In this paper fiscal policy is examined for an open economy characterised by unemployment due to efficiency wages. We …

, but - in contrast to other efficiency-wage models - not on the level of unemployment and is, thus, compatible with … increasing unemployment as observed, e.g. in Germany …