We study the implications of product and labor market imperfections for equilibrium unemployment under both exogenous … equilibrium unemployment. The relationship between the long-run unemployment and the intensity of product market competition is … long-run equilibrium unemployment is an increasing function of product market imperfections when the elasticity exceeds …

We study the role of labour and credit market imperfections for the determination of equilibrium unemployment. In the … equilibrium unemployment, because it induces wage-enhancing effects causing an increase in the outside option available to union … members. Equilibrium unemployment is also an increasing function of firms' bunkruptcy risks. It is, however, independent of …

We study the implications of product and labor market imperfections for equilibrium unemployment under both exogenous … equilibrium unemployment. The relationship between the long-run unemployment and the intensity of product market competition is … long-run equilibrium unemployment is an increasing function of product market imperfections when the elasticity exceeds …

unemployment within the framework of the "right-to-manage" approach. Our analysis highlights the critical role of labor mobility … unemployment benefits to constitute the trade union's relevant outside option, intensified credit market competition will increase … equilibrium unemployment. This relationship is shown to hold also for cases where the outside option incorporates profit sharing …

unemployment within the framework of the right-tomanage approach. Our analysis highlights the critical role of labour mobility for … relationship is frequently reversed if firms adopt profit sharing schemes. If employment at a fixed wage complements unemployment … equilibrium unemployment. This relationship is shown to hold also for cases where the outside option incorporates profit sharing …

We study the role of labour and credit market imperfections for the determination of equilibrium unemployment. In the … equilibrium unemployment, because it induces wage-enhancing effects causing an increase in the outside option available to union … members. Equilibrium unemployment is also an increasing function of firms' bankruptcy risks. It is, however, independent of …

unemployment within the framework of the "right-tomanage" approach. Our analysis highlights the critical role of labour mobility … unemployment benefits to constitute the trade union's relevant outside optin, intensified credit market competition will increase … equilibrium unemployment. This relationship is shown to hold also for cases where the outside option incorporates profit sharing …