-economic variables, the GDP growth rate and the world interest rate in particular, by uncertain future demographics. We show that the …

We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment … unemployment persistence by its adverse impact on growth, and may even destabilize the adjustment path. If this is the case, a … future fiscal consolidation is needed which further raises unemployment. These results are consistent with empirical evidence …

We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment … unemployment persistence by its adverse impact on growth, and may even destabilize the adjustment path. If this is the case, a … future fiscal consolidation is needed which further raises unemployment. These results are consistent with empirical evidence …

We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment … unemployment persistence by its adverse impact on growth, and may even destabilize the adjustment path. If this is the case, a … future fiscal consolidation is needed which further raises unemployment. These results are consistent with empirical evidence …

limit factor mobility to capital mobility and make different assumptions about future trends in demographics and …