The Interaction of Monetary Policy - E-book

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The Interaction Of Monetary Policy And Wage Bargaining In The European Monetary Union - ENG

Lessons From The Endogenous Money Approach

S. Dullien

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Sinopsis

ISBN:	9780230006140
Formato:	Page Fidelity
Idioma:	Inglés
Editorial:	Springer Nature
Tema:	Negocios y economía
Subtema:	Macroeconomía
Año de publicación:	2004-10-11

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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