We compare labor market outcomes under firm-level and sector-level bargaining in a one-sector mortensen-pissarides economy with firm-specific productivity shocks. Our main theoretical results are twofold. First, unemployment is lower under firm-level bargaining second, introducing efficient...

The model of the wage bargaining constitutes a framework for calculation of the NAWRU in Poland. The approach used in the paper let me trace changes of the natural unemployment rate in Poland in the context of structural changes in the economy in the last decade. Moreover, I introduced the...

In this working paper James K. Galbraith, professor of economics at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin, rejects the analytical construct within which many economists currently operate; that is, the construct in which in the extreme macroeconomic...