model reveals that an anti-retrenchment law can cause wages and employment to rise or fall, depending on the parametric … raises wages and employment. In a subsequent section we assume that the law specifies exogenously the amount of compensation …, equilibrium wages fall. However beyond a certain point, further rises in s cause wages to rise. In other words, the relation …

. We solve (i) for the Markov perfect equilibria with no commitment, under the assumption that the union chooses wages each … entire (infinite) sequence of wages. We conclude that the speed of adjustment of employment, that is higher in the … employment and wages only in the no-commitment case, i.e., the higher the relevance of adjustment costs the higher the wage and …

the labor market. Its impact on employment, wages and wealth depends crucially on the design of immigration policy …

determination. In the basic set-up, UISAs induce a trade union to lower wages. This effect can also arise if (1) balanced …

privatization of public companies impact on the distribution of employment and wages between the formal and the informal sector. We …