for equilibrium unemployment are characterized. …

unemployment. The optimal profit share, which the firms use as a wage-moderating commitment device, is below the bargaining power … reduce equilibrium unemployment, because it induces both higher wage mark-ups and lower optimal profit shares. …

Many countries suffer from persistently high unemployment rates. The scope for labour market reforms is often limited …

-to-manage bargaining, which causes involuntary unemployment. …

In this paper fiscal policy is examined for an open economy characterised by unemployment due to efficiency wages. We …

downward rigidity, and magnifying the response of unemployment to negative shocks. We also consider layoffs and show that for a …

small reduction in the unemployment benefits, or introducing a small cash bonus for workers that get a new job, may have no … e.ect on unemployment in some cases, while eradicating significant levels of unemployment in other cases. Our analysis … multiple equilibria may exist in a game involving both workers and an unemployment-averse government. Furthermore, we explore a …

In contrast to much recent work regarding the causes of European unemployment, in this paper, we emphasise the … accumulation and unemployment, we argue that what matters for the evolution of employment [and the unemployment rate] is not the …