This working paper addresses the question whether imperfect competition in product markets contributes substantially to the level and persistence of unemployment in modern industrial economies. In section I, the paper documents the available empirical research of the origin and extent of product...

This working paper addresses the question whether imperfect competition in product markets contributes substantially to the level and persistence of unemployment in modern industrial economies. In section I, the paper documents the available empirical research of the origin and extent of product...