centralization of wage bargaining and of the interaction between those institutional variables, on real wages, unemployment and … decrease in the number of unions) triggers two opposite effects on real wages, unemployment and inflation. It reduces the … substitutability between the labor of different unions and therefore the degree of effective competition between them. This "reduced …

This paper investigates the impact of individual asset holdings on the probability of leaving unemployment. According … to the theory, higher levels of financial wealth will result in higher reservation wages and longer unemployment … out of unemployment. In particular, negative levels of wealth increase significantly the hazard of leaving unemployment …