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The Interaction of Monetary Policy and Wage Bargaining in the European Monetary Union : Lessons from the Endogenous Money Approach. 経済・通貨同盟における金融政策と賃金交渉の相互作用
・ISBN 978-1-4039-4151-0 hard EUR 99.99
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| 著者・編者 | Dullien, Sebastian, |
|---|---|
| 出版社 | (Palgrave Macmillan, UK) |
| 出版年月 | 2004 |
| ページ数 | 276 pp. |
| 言語 | ENG |
| ニュース番号 | ＜511-327＞ |
解説
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.