Awareness of general equilibrium effects and unemployment
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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| Hauptverfasser: | , |
|---|---|
| Dokumenttyp: | Book/Monograph Arbeitspapier |
| Sprache: | Englisch |
| Veröffentlicht: |
Bonn
Institute for the Study of Labor (IZA)
2001
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| Schriftenreihe: | IZA Discussion paper series
394 |
| In: |
Discussion paper series (394)
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| Schlagworte: | |
| Online-Zugang: | Resolving-System, kostenfrei, Volltext: http://hdl.handle.net/10419/21254
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| Verfasserangaben: | Hans Gersbach; Achim Schniewind |
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