Recent contributions have shown that in the presence of strategic interactions be- tween non atomistic unions and the central bank, an accommodating monetary policy rule may increase equilibrium unemployment. This note demonstrates that this result can be reversed considering the case where the...

This paper analyses the case of a monetary union between identical countries characterised by oligopolistic competition in their labour market. It suggests that the switch to a common currency may improve their macroeconomic performances depending on labour market features.

Cet article s'interroge sur l'applicabilité d'un système de négociations salariales coordonnées dans l'Union Economique et Monétaire (UEM). Nous évoquons, dans un premier temps, les gains en termes d'emploi, que pourrait générer une telle démarche. Nous montrons ensuite que si les...