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In this paper we study how promoting product market competition by reducing mark-ups or by increasing productivity are able to complement labor market reforms. We use a simple general equilibrium model with different types of labor. The bottom-line of the paper is that product market reforms...
Persistent link: https://www.econbiz.de/10001573265
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/10001579861
Persistent link: https://www.econbiz.de/10001675924
of all general equilibrium feedback effects. We show analytically that if agents only consider labor demand effects, low …
Persistent link: https://www.econbiz.de/10001647018
To examine the impact of globalization on managerial compensation, we consider a matching model where firms compete both in the product market and in the managerial market. We show that globalization, that is, the simultaneous integration of product markets and managerial pools, leads to an...
Persistent link: https://www.econbiz.de/10010341147
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/10011391642
In this paper we study how promoting product market competition by reducing mark-ups or by increasing productivity are able to complement labor market reforms. We use a simple general equilibrium model with different types of labor. The bottom-line of the paper is that product market reforms...
Persistent link: https://www.econbiz.de/10011391687
of all general equilibrium feedback effects. We show analytically that if agents only consider labor demand effects, low …
Persistent link: https://www.econbiz.de/10011405183
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/10011411100
We examine the macroeconomic consequences of industry wage bargaining and product market reforms. We suggest that general equilibrium effects may be important for the evaluation of industry-specific regulations. In particular, we suggest that the European unemployment problem can be traced back...
Persistent link: https://www.econbiz.de/10013319820