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dc.contributor.authorGersbach, Hansen_US
dc.contributor.authorSchniewind, Achimen_US
dc.date.accessioned2009-01-28T16:20:47Z-
dc.date.available2009-01-28T16:20:47Z-
dc.date.issued2001en_US
dc.identifier.urihttp://hdl.handle.net/10419/21254-
dc.description.abstractWe 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 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 incorporate all feedback effects from other sectors may explain the persistence of high unemployment in Europe.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesIZA Discussion paper series 394en_US
dc.subject.jelD58en_US
dc.subject.jelE24en_US
dc.subject.jelL13en_US
dc.subject.jelJ60en_US
dc.subject.ddc330en_US
dc.subject.keywordSectoral wage-bargainingen_US
dc.subject.keywordawareness of general equilibrium effectsen_US
dc.subject.keywordunemploymenten_US
dc.subject.stwTheorie der Arbeitslosigkeiten_US
dc.subject.stwLohnverhandlungstheorieen_US
dc.subject.stwArbeitsmarkttheorieen_US
dc.subject.stwGleichgewichten_US
dc.subject.stwArbeitslosigkeiten_US
dc.subject.stwHysteresisen_US
dc.subject.stwTheorieen_US
dc.titleAwareness of General Equilibrium Effects and Unemploymenten_US
dc.typeWorking Paperen_US
dc.identifier.ppn343033542en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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