unemployment results. With an intermediate view, when partial equilibrium effects are taken into account, high real wages and … unemployment results, which may explain the persistence of high unemployment in Europe. If all general equilibrium effects are … incorporated at once, again low real wages and low unemployment results. We thus obtain a hump-shaped relationship between the …

labor supply and equilibrium unemployment in representative agent models. The impact of tax policy on labor market … unemployment benefits. In non-competitive labor markets, employment declines if a higher tax burden makes the outside option (i ….e. unemployment) relatively more attractive. Marginal tax rates typically differ substantially across individuals. To explore the …

labor supply and equilibrium unemployment in representative agent models. The impact of tax policy on labor market … unemployment benefits. In non-competitive labor markets, employment declines if a higher tax burden makes the outside option (i ….e. unemployment) relatively more attractive. Marginal tax rates typically differ substantially across individuals. To explore the …

labor supply and equilibrium unemployment in representative agent models. The impact of tax policy on labor market … unemployment benefits. In non-competitive labor markets, employment declines if a higher tax burden makes the outside option (i ….e. unemployment) relatively more attractive. Marginal tax rates typically differ substantially across individuals. To explore the …

Underground Economy -- 7 Insiders, Outsiders, and the Underground Economy -- 8 Wages, Unemployment, and the Underground Economy …