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 …

German data confirms the theoretical predictions. Keywords: Unemployment ; Hysteresis ; Trade Unions ; Cointegration Contents … Studies;Hysteresis in German Unemployment; Conclusions; Index …The book offers an explanation of unemployment based on a model of wage bargaining between a trade union and an …