Interaction of monetary policy and wage bargaining in the european monetary union, the: lessons from the endogenous money approach
Auteur :
Dullien, S.
Éditeur :
Palgrave Macmillan
ISBN :
9781349520800
Date de publication :
1 janv. 2004
Dimensions :
21,6 x 14,0 cm
Langue :
Anglais
Pays d'origine :
Grande Bretagne
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.