Wage Bargaining and Unemployment in a General Equilibrium Model

Hans Jørgen Jacobsen and Christian Schultz ()
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Hans Jørgen Jacobsen: Institute of Economics, University of Copenhagen

No 89-01, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: A multisectoral temporary general equilibrium macro model with wage bargaining is presented. In each sector agents are divided into capitalists and workers. The markets for produced goods and money are competitive, but the wage rate in a sector is determined by negotiation between an employers' union and a trade union both caring about their members' utilities. Nash bargaining equilibria will for certain values of parameters be characterized by unemployment, for others by full employment. A characterization result is given.

Keywords: labour economics; theory and empirical studies illustrating theory; theory of uncertainty and information (search for similar items in EconPapers)
Pages: 15 pages
Date: 1989-01
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Published as: "A General Equilibrium Macro Model with Wage Bargaining", in: Scandinavian Journal of Economics, 1990, 92(3) pp. 379-398

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Persistent link: https://EconPapers.repec.org/RePEc:kud:kuiedp:8901

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