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Monetary policy and wage bargaining in the EMU: Restrictive ECB policies, high unemployment, nominal wage restraint and rising inflation
Hein, Eckhard - Wirtschafts- und Sozialwissenschaftliches Institut, … - 2002
Assessing the effects of monetary policy and wage bargaining on employment and inflation in the European Monetary Union (EMU), in the first step a Post-Keynesian competitive claims model of inflation with endogenous money is developed. In this model the NAIRU is considered to be a short-run...
Persistent link: https://www.econbiz.de/10009327920
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Monetary Policy and Wage Bargaining in the EMU: Restrictive ECB Policies, High Unemployment, Nominal Wage Restraint and Rising Inflation
Hein, Eckhard - EconWPA - 2005
Assessing the effects of monetary policy and wage bargaining on employment and inflation in the European Monetary Union (EMU), in the first step a Post-Keynesian competitive claims model of inflation with endogenous money is developed. In this model the NAIRU is considered to be a short-run...
Persistent link: https://www.econbiz.de/10005412586
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Wage Bargaining and Monetary Policy in a Kaleckian Monetary Distribution and Growth Model: Trying to Make Sense of the NAIRU
Hein, Eckhard - In: European Journal of Economics and Economic Policies: … 3 (2006) 2, pp. 305-329
In a Kaleckian monetary distribution and growth model with conflict inflation we assess the role of a Non-Accelerating Inflation Rate of Unemployment (NAIRU). The short-run stability of a NAIRU is examined taking into account real debt effects of accelerating and decelerating inflation, and the...
Persistent link: https://www.econbiz.de/10011133377