-market competition and growth on aggregate unemployment, but also how they affect the unemployment rates for the low- and high …

Many countries suffer from persistently high unemployment rates. The scope for labour market reforms is often limited …

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 …