levels of unemployment. We consider a general equilibrium model where firms in one sector compete à la Cournot and a real … wage rigidity leads to unemployment. If firms consider only partial equilibrium effects when choosing quantities, the …

‐sector economy and show that if agents only consider labor demand effects low real wages and low unemployment are the consequences … and unemployment result. If all general equilibrium effects are perceived simultaneously, we once again obtain a situation … with low wages and unemployment. The results may explain why unemployment is high in some European countries …

levels of unemployment. We consider a general equilibrium model where firms in one sector compete a la Cournot and a real … wage rigidity leads to unemployment. If firms consider only partial equilibrium effects when choosing quantities, the …

levels of unemployment. We consider a general equilibrium model where firms in one sector compete à la Cournot and a real … wage rigidity leads to unemployment. If firms consider only partial equilibrium effects when choosing quantities, the …. When labor is immobile across industries, unemployment in the steady state is lower than when all general equilibrium …

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 …

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. 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 …