The Interaction of Monetary Policy and Wage Bargaining in the European Monetary Union: Lessons from the Endogenous Money Approach
Author:   S. Dullien
Publisher:   Palgrave USA
Edition:   2004 ed.
ISBN:  

9781403941510


Pages:   276
Publication Date:   11 October 2004
Format:   Hardback
Availability:   In Print   Availability explained
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The Interaction of Monetary Policy and Wage Bargaining in the European Monetary Union: Lessons from the Endogenous Money Approach


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Overview

Sebastian Dullien gives a novel explanation for unemployment and inflation in the Euro-Zone. He argues that unemployment stems from a lack of cooperation 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. Cooperation between both actors is necessary for high employment and low inflation. The current institutional set-up is found to be unable to assure cooperation.

Full Product Details

Author:   S. Dullien
Publisher:   Palgrave USA
Imprint:   Palgrave Macmillan
Edition:   2004 ed.
Dimensions:   Width: 14.00cm , Height: 2.20cm , Length: 21.60cm
Weight:   0.495kg
ISBN:  

9781403941510


ISBN 10:   1403941513
Pages:   276
Publication Date:   11 October 2004
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print   Availability explained
This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us.

Table of Contents

Introduction: The Unsolved Unemployment-Inflation Puzzle Development of Literature on Interaction of Monetary Policy and Wage Bargaining European Empirics Problem with Standard Approaches: Criticising the Real Balance Effect Monetary Policy Transmission in a World of Endogenous Money Output and Prices in a World Without the Real Balance Effect The Central Bank: Restrictions in a World of Endogenous Money Optimal Policy Mix and Logic of a Social Pact Conclusion

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Author Information

Sebastian Dullien is Economics Correspondent at the Financial Times Deutschland, the German language edition of the FT. Previously he worked as a short term expert for the Deutsches Institut fur Wirtschaftsforschung. He also teaches at the Frele Universitat in Berlin.

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