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Awareness of general equilibrium effects and unemployment

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We examine wage-bargaining in a two-sector economy when employers and labor unions in each sector are not always aware of all general equilibrium feedback effects. We show analytically that if agents only consider labor demand effects, low real wages and low unemployment result. With an intermediate...

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Bibliographische Detailangaben
Hauptverfasser: Gersbach, Hans (VerfasserIn) , Schniewind, Achim (VerfasserIn)
Dokumenttyp: Book/Monograph Arbeitspapier
Sprache:Englisch
Veröffentlicht: Bonn Institute for the Study of Labor (IZA) 2001
Schriftenreihe:IZA Discussion paper series 394
In: Discussion paper series (394)

Schlagworte:
Graue Literatur
Arbeitspapier
Online-Zugang:Resolving-System, kostenfrei, Volltext: http://hdl.handle.net/10419/21254
Volltext
Verfasserangaben:Hans Gersbach; Achim Schniewind

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