کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
9550988 1372630 2005 11 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Monetary regimes and the co-ordination of wage setting
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Monetary regimes and the co-ordination of wage setting
چکیده انگلیسی
A recent literature argues that a strict monetary regime may reduce equilibrium unemployment by disciplining wage setters, as wage setters abstain from raising wages to avoid a monetary contraction. However, in this literature the wage setters are assumed not to co-ordinate their wage setting. The present paper argues that precisely because a strict monetary regime may discipline the unco-ordinated wage setting, thus lowering unemployment in the unco-ordinated outcome, it also reduces wage setters' incentives to co-ordinate. It is shown that an accommodating monetary regime may reduce equilibrium unemployment, via the strengthening of the wage setters' incentives to co-ordinate.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Economic Review - Volume 49, Issue 4, May 2005, Pages 833-843
نویسندگان
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