inequality and raises unemployment, but expected welfare gains are ensured if workers are risk neutral. And while wage inequality …

We construct an overlapping generations model with unemployment risk where wages, employment and severance payments are … set through efficient bargaining between risk averse Unions and risk neutral firms. Assuming that a First Best cannot be …

, explains the initial rise in unemployment. The reduction in union power also helps to explain the acceleration in productivity … low wages and productivity. A fall in union power results in a reduction in these inefficiencies and leads not only to a … rise in productivity but also in wages. …

This paper shows how misleading is the facile contrast of Europe following a path of high productivity growth, high … shocks may initially create a positive trade-off between productivity and unemployment, they set in motion a dynamic path of … contributions of this paper are to show how a productivity-unemployment trade-off might emerge and how it might subsequently …

increase in the productivity and/or the supply of skilled relative to unskilled workers. These effects are stronger when hiring …

Since 1979 productivity growth in Britain has improved markedly compared with Europe. The turnaround in productivity …

We develop an equilibrium search-matching model with risk-neutral agents and two-sided ex-ante heterogeneity … States in terms of unemployment, productivity growth and wage inequality. To show this, we construct two fictitious economies … productivity grows less due to larger mismatch. The model can be used to address a number of normative issues. …

long-run unemployment rate is independent of the level of productivity and the magnitude of the labour force. The model …

This paper explores the interrelation between the degree of unemployment persistence and the unemployment-productivity …