real wages and low unemployment 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 considered at once …, low real wages and low unemployment again result. The assumption that unions and employers’ federations are not able to …

unemployment results. With an intermediate view, when partial equilibrium effects are taken into account, high real wages and … unemployment results, which may explain the persistence of high unemployment in Europe. If all general equilibrium effects are … incorporated at once, again low real wages and low unemployment results. We thus obtain a hump-shaped relationship between the …

that the European unemployment problem can be traced back partially to insufficient recognition of general equilibrium …

unemployment. We show that aggregate unemployment decreases for uneven technical change in the case of Cobb-Douglas production … leading to a rise in unemployment. Moreover, we identify polar cases when unemployment strongly decreases. …

bottom-line of the paper is that product market reforms will help to reduce aggregate unemployment under many circumstances … even though sectoral unemployment may increase. We also highlight that the mobility of high-skilled workers and the … distribution of unemployment across sectors determine whether productivity improvements in one sector affect aggregate unemployment …

We explore the far-reaching implications of replacing current unemployment benefit (UB) systems by an unemployment … balances in these accounts are available to them during periods of unemployment. The government is able to undertake balanced … model for the high unemployment countries of Europe. Our results suggest that this policy reform would significantly change …