The book offers an explanation of unemployment based on a model of wage bargaining between a trade union and an … natural rate of unemployment is independent of productivity growth. Taxes on labour and capital are identified as important … German data confirms the theoretical predictions. Keywords: Unemployment ; Hysteresis ; Trade Unions ; Cointegration Contents …

Persistently high unemployment rates in Germany have led to a long-running controversy on the causes of the … unemployment problem. This paper aims to re­view the contribution of Keynesian and monetarist theories to this controversy and … explores empirically their implications for the explanation of high un­em­ploy­ment in Germany using a structural vector …

voluntary non-participation and involuntary unemployment which is caused by labor market rationing and model the dynamics of … allows us to test for true state dependence of voluntary non-participation, involuntary unemployment, full-time work and over …