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Can Long-Term Wage Accords Promote Growth and Employment?ation of the bargaining structure plays a crucial rule in economic performance. Central bargaining, which incorporates the leapfrogging externality incorporated in firm-level bargaining, will yield lower rates of unemployment for a given rate of economic growth. The increase in labor resources will

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Conclusions and Policy RecommendationsThere is good reason to analyse the causes of unemployment themselves. As stated in the introduction, unemployment is, first and foremost, a social problem, but it also deprives the economy of part of its resource base, and thus has a clearly detrimental effect on well-being.

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https://doi.org/10.1007/978-981-15-2357-1There is good reason to analyse the causes of unemployment themselves. As stated in the introduction, unemployment is, first and foremost, a social problem, but it also deprives the economy of part of its resource base, and thus has a clearly detrimental effect on well-being.

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Introduction and Overviewheir jobs, but it is equally likely to lead to a shift away from innovative towards routine tasks, thus either increasing or reducing the level of economic growth. Furthermore, it may lead agents to revise their wage claims, thus potentially influencing the sectoral composition of the economy, which