The Interaction of Monetary Policy and Wage Bargaining in the European Monetary Union Lessons from the Endogenous Money Approach
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 c...
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| Format: | eBook |
| Language: | English |
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London
Palgrave Macmillan UK
2004, 2004
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| Collection: | Springer eBooks 2005- - Collection details see MPG.ReNa |
| Summary: | 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 |
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| Physical Description: | XIV, 276 p online resource |
| ISBN: | 9780230006140 |