The Interaction of Monetary Policy and Wage Bargaining in the European Monetary Union : Lessons from the Endogenous Money Approach

by Sebastian Dullien

Sebastian Dullien gives a novel explanation for unemployment and inflation in the Euro-Zone. 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. Co-operation between both actors is necessary for high employment and low inflation. The current institutional set-up is found to be unable to assure cooperation

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Year of publication:	2004
Authors:	Dullien, Sebastian
Publisher:	London : Palgrave Macmillan
Subject:	Geldpolitik \| Monetary policy \| Tarifverhandlungen \| Collective bargaining \| Lohnpolitik \| Wage policy \| Arbeitslosigkeit \| Unemployment \| Preisstabilität \| Price stability \| Geldtheorie \| Monetary theory \| Postkeynesianismus \| Post-Keynesian economics \| EU-Staaten \| EU countries \| Europäische Union \| Währungsunion \| Inflation \| Lohn
Description of contents:	Table of Contents [external.dandelon.com]

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Extent:	Online-Ressource (XIV, 276 p, online resource)
Series:	SpringerLink / Bücher Springer eBook Collection / Palgrave Economics & Finance Collection Springer ebook collection / Palgrave Economics and Finance Collection 2000 - 2013
Type of publication:	Book / Working Paper
Language:	English
Notes:	Includes bibliographical references (p. 258-269) and index Cover; Contents; List of Figures; List of Tables; Acknowledgements; 1 Introduction: The Unsolved Unemployment-Inflation Puzzle; 2 Bargaining Structures and the Central Bank: Literature and Empirics; 3 The Real Balance Effect: Shortcomings; 4 Monetary Policy Transmission in a World of Endogenous Money; 5 Output and Prices in a World Without the Real Balance Effect; 6 The Central Bank: Restrictions in a World of Endogenous Money; 7 The Optimal Policy Mix and Logic of a Social Pact; 8 Conclusions and Outlook; Appendices: Monetary and Wage Policy in Standard Models; Notes and References BibliographyIndex
ISBN:	978-0-230-00614-0 ; 978-1-349-52080-0
Other identifiers:	10.1057/9780230006140 [DOI]
Classification:	Einkommen, Beschäftigung, Arbeitsmarkt
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012053776