bargaining power of the individual is high compared to the bargaining power of the union, there is more unemployment with … opening a vacancy is sufficiently high, there is more unemployment with individual wage setting. Finally, for a constant …, individual bargaining produces more unemployment. …

of the individual is high compared to the bargaining power of the union, there is more unemployment with individual wage … vacancy is sufficiently high, there is more unemployment with individual wage setting. Finally, for a constant marginal … bargaining produces more unemployment. …

-setting mechanisms and the cyclicality of unemployment in Euroland. We find that in the 1990s unemployment cyclicality has been higher in … still offer a convincing explanation for a significant part of Euroland's problem of persistently high unemployment. There …. -- unemployment ; wage-setting mechanisms ; European Monetary Union …

Standard macroeconomic models underpredict the volatility of unemployment fluctuations. A common solution is to assume … jobs. This form of wage rigidity does not affect job creation and thus cannot explain the unemployment volatility puzzle …

determination. Our theory sheds new light on how unemployment can affect workers' labor market outcomes and wage determination … unemployment durations are likely to be followed by lower re-employment wages because a worker's beliefs about his job …-finding process deteriorate with unemployment duration. Moreover, our analysis provides a set of useful results on dynamic programming …