The Interaction of Monetary Policy and Wage Bargaining in the European Monetary Union
S. Dullien
Gebundenes Buch

The Interaction of Monetary Policy and Wage Bargaining in the European Monetary Union

Lessons from the Endogenous Money Approach

Versandkostenfrei!
Versandfertig in über 4 Wochen
106,99 €
inkl. MwSt.
Weitere Ausgaben:
PAYBACK Punkte
53 °P sammeln!
Sebastian Dullien gives a novel explanation for unemployment and inflation in the Euro-Zone. He argues that unemployment stems from a lack of co-operation between unions and monetary authorities: In an economy with endogenous money as EMU, wage setters are responsible for price stability while the central bank is responsible for the level of output. Co-operation between both actors is necessary for high employment and low inflation. The current institutional set-up is found to be unable to assure cooperation.