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hysteresis 1 unemployment 1 wage bargaining model 1
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Moravanský, Dalibor 1 Němec, Daniel 1
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Bulletin of the Czech Econometric Society 1
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Wage Bargaining Model As Microfoundation Of Hysteresis Hypothesis
Moravanský, Dalibor; Němec, Daniel - In: Bulletin of the Czech Econometric Society 13 (2006)
This paper presents a wage bargaining model and its relation to hysteresis hypothesis in unemployment. Hysteresis in unemployment is used do denote a situation, in which the equlibrium rate is determined by the path of the actual unemployment rate. Seeming lack of micro economical foundations...
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