LABOR MARKET REGIMES AND MONETARY POLICY

Nicola Acocella, Giovanni Di Bartolomeo () and Douglas A. Hibbs ()

No 58, Working Papers from Sapienza University of Rome, Department of Public Economics

Abstract: In this paper we propose straightforward extensions of multi-union, monopolistic competition models appearing in the recent literature on the macroeconomic effects of monetary policy. We extend these models from the Stackelberg equilibrium to the Nash equilibrium under variations in labor market regime in order to evaluate propositions about non-neutrality of monetary policy.

Keywords: Policy game; monetary policy neutrality; trade union; monopolistic competition. (search for similar items in EconPapers)
JEL-codes: E52 E58 J51 (search for similar items in EconPapers)
Date: 2003-07
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Working Paper: Labor market regimes and monetary policy (2003)
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