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This paper focuses on the interaction of monetary policy and wage formation in economies with strong labour unions. Government and unions are viewed as endogenous utility maximizers, and the macroeconomic consequences of their interaction are explored with the aid of some elements of game...
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This paper focuses on the interaction of monetary policy and wage formation in economies with strong labor unions. Government and unions are viewed as endogenous utility maximizers and the macroeconomic consequences of their strategic interaction are explored with the aid of some elements of...
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