Cukierman, A.; Lippi, F. - Tilburg University, Center for Economic Research - 1998
inflation, in a framework in which unions are averse to inflation. This aversion moderates unions wage demands as they attempt … decrease in the number of unions) triggers two opposite effects on real wages, unemployment and inflation. It reduces the …, unemployment and inflation. For sufficiently inflation averse unions the interaction between those two effects produces a Calmfors …