small reduction in the unemployment benefits, or introducing a small cash bonus for workers that get a new job, may have no … e.ect on unemployment in some cases, while eradicating significant levels of unemployment in other cases. Our analysis … multiple equilibria may exist in a game involving both workers and an unemployment-averse government. Furthermore, we explore a …

small reduction in the unemployment benefits, or introducing a small cash bonus for workers that get a new job, may have no … effect on unemployment in some cases, while eradicating significant levels of unemployment in other cases. Our analysis … multiple equilibria may exist in a game involving both workers and an unemployment-averse government. Furthermore, we explore a …

unobservable and incomplete contracts with and without renegotiation opportunities under the assumption that the principal cannot … outcomes to a subset of Nash equilibrium outcomes and renegotiation imposes further constraints. Yet, there is a large class of …