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International comparisons show that countries with co-ordinated wage setting generally have lower unemployment than … circumstances a passive regime may induce co-operation in wage setting, and thus lower unemployment, when a stricter regime would …
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In this paper Markus Knell studies the determinants of unemployment in a two-country- model, where real wages are the … monetary union (MU) will (negatively) affect unemployment in all member countries by fundamentally changing the nature of … whatsoever on structural unemployment. …
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Arbeit die Rolle einer Non-Accelerating-Inflation-Rate-of-Unemployment (NAIRU) analysiert. Die kurzfristige Stabilität der … Inflation Rate of Unemployment (NAIRU). The short run stability of a NAIRU is examined taking into account real debt effects of …
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In an economy with large wage setters (like industry unions), the monetary regime affects the trade-off between consumer real wages and employment and profits faced by the wage setters. This paper shows that an exchange rate target, including participation in a monetary union, is likely to...
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