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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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Bibliographic Details
Main Authors: Gersbach, Hans (Author) , Schniewind, Achim (Author)
Format: Book/Monograph Working Paper
Language:English
Published: Bonn Institute for the Study of Labor (IZA) 2001
Series:IZA Discussion paper series 394
In: Discussion paper series (394)

Subjects:
Graue Literatur
Arbeitspapier
Online Access:Resolving-System, kostenfrei, Volltext: http://hdl.handle.net/10419/21254
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Author Notes:Hans Gersbach; Achim Schniewind
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Awareness of general equilibrium effects and unemployment by Gersbach, Hans (Author) , Schniewind, Achim (Author) ,


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Awareness of general equilibrium effects and unemployment by Gersbach, Hans (Author) , Schniewind, Achim (Author) ,


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