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We examine wage bargaining when employers and labor unions do not always take all general equilibrium effects into account but learn a steady state. If agents do hardly consider general equilibrium effects, low real wages and low unemployment results. With an intermediate view, when partial...
Persistent link: https://www.econbiz.de/10005703472
The financial crisis of 2007 triggered the biggest global recession since the Great Depression. Although economies are gradually becoming more stable and overcoming the initial shock, the effects of the recession are still at work through distortions in savings, the deterioration in the labour...
Persistent link: https://www.econbiz.de/10009276944
We present a model that integrates the discrete working time choice of heterogenous households into a general equilibrium setting where wages are determined by sectoral bargaining between firms and trade unions. The model is calibrated to German micro and macro data. We then use it to analyse a...
Persistent link: https://www.econbiz.de/10005701580
Existing theoretical literature fails to explain the differences between the pay of workers that are covered by union agreements and others who are not. This study aims at closing this gap by a single general- equilibrium approach that integrates a dual labor market and a two- sector product...
Persistent link: https://www.econbiz.de/10005827689
Labor mobility is an important issue in quantitative economic analyses due to its possible implications for the sectoral reallocation of factors of production, output response, prices, and wages. This paper investigates the issue of agricultural unskilled labor mobility from both modeling and...
Persistent link: https://www.econbiz.de/10009318928
The importance of empirically analyzing the transmission of international prices to and their impacts on domestic markets is growing particularly since the 2006–2008 food price hikes. However, the field is dominated by econometric Price Transmission Analysis (PTA) but surprisingly disconnected...
Persistent link: https://www.econbiz.de/10010753361
We examine wage bargaining in a two-sector economy when the employers and labour unions in each sector are not always aware of all the general equilibrium feedback effects. We show analytically that if agents only consider labour demand effects, low real wages and low unemployment are the...
Persistent link: https://www.econbiz.de/10005662391
We examine wage-bargaining in a two-sector economy when employers and labor unions in each sector are not always aware of all general equilibrium feedback effects. We show analytically that if agents only consider labor demand effects, low real wages and low unemployment result. With an...
Persistent link: https://www.econbiz.de/10005762308
In this paper we investigate the impact on regional labour markets of an increase in primary factor productivity in the Utilities sector. We conjecture that such an increase in productivity is illustrative of the direct effects of national competition policy (NCP). We compute, at the regional...
Persistent link: https://www.econbiz.de/10008565226
In a two-sector-economy with real wage rigidity, we examine how technical progress in one sector affects aggregate unemployment. We show that aggregate unemployment decreases for uneven technical change in the case of Cobb-Douglas production functions. For every type of technical progress there...
Persistent link: https://www.econbiz.de/10005822836