, unemployment and capital accumulation. First, we recover the partial equilibrium over-employment phenomenon put to the fore by … Stole and Zwiebel (1996a,b) at the firm level, according to which the bargaining power of workers increases employment …. Further, with heterogeneous labour, higher relative bargaining power for some groups leads quite generally to over-employment …

responsiveness of the unemployment rate to changes in macroeconomic variables. Most importantly, private information increases the … responsiveness of the unemployment rate to changes in the general (type- and effort independent) productivity level. If the changes … also affect the information structure, the responsiveness of the unemployment rate may be large, even if the changes in …

nominal and real wage rigidity) and social preferences regarding inflation, employment, and real wages. We also calibrate our … those that affect the long-run unemployment rate. …

cycle fact: expansions and contractions in output are equally brief and violent but contractions in employment are briefer … and more violent than expansions. The difference arises because employment typically lags output around peaks but both …

effects, low real wages and low unemployment are the result. With an intermediate view, i.e. when partial equilibrium effects … within a sector are taken into account, high real wages and unemployment result. If all general equilibrium effects are … simultaneously considered, we once again obtain a situation of low wages and unemployment. The assumption that unions and employers …

During the nineties, unemployment fell in a number of European countries while it remained high in others. This Paper … political constraints, the prevalence of ideology, and agency issues within those bureaucracies concerned with the unemployment … problem. Some speculative thoughts are offered as to why those factors might be more stringent in countries where unemployment …

Spain and Portugal are two neighbour economies which share many characteristics. Spanish unemployment is more than … double Portuguese unemployment, however. In this chapter we resort to Structural Vector Autoregression (SVAR) techniques to …, their effects on unemployment were much more long-lasting in Spain than in Portugal. …

This Paper studies the impact of wage growth on the evolution of employment in an intertemporal general … is the common growth rate of consumption, demand, and output. In these steady-state equilibria employment contracts at a … equality of wage growth and productivity growth is a condition for constant employment. …

reduces profits and and output. Employment effects are sensitive to the representation of preferences. In our benchmark, small … reductions in working time, starting from the laissez-faire equilibrium solution, always increase employment, while larger … reductions reduce employment. However, the employment gains from reducing working time are relatively small …