Interaction of Monetary Policy and Wage Bargaining in the European Monetary Union

Lessons from the Endogenous Money Approach

Häftad, Engelska, 2004

AvS. Dullien

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He argues that unemployment stems from a lack of co-operation between unions and monetary authorities: In an economy with endogenous money as EMU, wage setters are responsible for price stability while the central bank is responsible for the level of output.

Produktinformation

Utgivningsdatum2004-01-01
Mått140 x 216 x 15 mm
Vikt340 g
FormatHäftad
SpråkEngelska
Antal sidor276
FörlagPalgrave Macmillan
ISBN9781349520800

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Introduction: The Unsolved Unemployment-Inflation Puzzle Development of Literature on Interaction of Monetary Policy and Wage Bargaining European Empirics Problem with Standard Approaches: Criticising the Real Balance Effect Monetary Policy Transmission in a World of Endogenous Money Output and Prices in a World Without the Real Balance Effect The Central Bank: Restrictions in a World of Endogenous Money Optimal Policy Mix and Logic of a Social Pact Conclusion