levels of unemployment. We consider a general equilibrium model where firms in one sector compete à la Cournot and a real … wage rigidity leads to unemployment. If firms consider only partial equilibrium effects when choosing quantities, the …

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 …

unemployment. We show that aggregate unemployment decreases for uneven technical change in the case of Cobb-Douglas production … leading to a rise in unemployment. Moreover, we identify polar cases when unemployment strongly decreases. …

levels of unemployment. We consider a general equilibrium model where firms in one sector compete à la Cournot and a real … wage rigidity leads to unemployment. If firms consider only partial equilibrium effects when choosing quantities, the …

bottom-line of the paper is that product market reforms will help to reduce aggregate unemployment under many circumstances … even though sectoral unemployment may increase. We also highlight that the mobility of high-skilled workers and the … distribution of unemployment across sectors determine whether productivity improvements in one sector affect aggregate unemployment …

interested in regional adjustment costs can use indices of the change in regional employment and unemployment as good proxies for …

effects, low real wages and low unemployment are the 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 … simultaneously considered, we once again obtain a situation of low wages and unemployment. The assumption that unions and employers …

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 …

determined by the overall unemployment rate. It is argued both on analytical and numerical grounds that the second alternative is …