unemployment. Utilizing this framework, the article provides different empirical identification strategies in order to disentangle … the various means through which unemployment alters both the well-being and utility of an individual and shows, by … reviewing some of the recent research in which I have participated, that unemployment primarily threatens an individual …

We show that equilibrium involuntary unemployment emerges in a multi-stage game model where all market power resides … returns there exists a continuum of subgame perfect equilibria involving unemployment. A firm does not undercut the … employment equilibria may also exist, but only the involuntary unemployment equilibria are robust to decreasing returns …