Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/21254 
Erscheinungsjahr: 
2001
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 394
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
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 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.
Schlagwörter: 
Sectoral wage-bargaining
awareness of general equilibrium effects
unemployment
JEL: 
D58
E24
L13
J60
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
287.36 kB





Publikationen in EconStor sind urheberrechtlich geschützt.