Berger, Helge; Hefeker, Carsten - Fachbereich Wirtschaftswissenschaft, Freie Universität … - 2004
The pending enlargement of the European Monetary Union (EMU) has brought to the fore the discussion of the voting right distribution in the European Central Bank (ECB) council. We show that, in a model where labor unions internalize the inflationary consequences of wage setting, deviating from a...