The EMU and the Wage Bargain

Horst Tomann
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Horst Tomann: Freie Universitaet (FU) Berlin

Chapter 6 in Monetary Integration in Europe, 2017, pp 105-132 from Palgrave Macmillan

Abstract: Abstract Chapter 6 analyses the question of whether the EMU has changed the bargaining behaviour of employers and trade unions. To begin with, the chapter briefly reflects how theory describes the relationship between wage bargaining, employment and real wages. Then it explores the potential for real wage flexibility in the monetary union. Is there, on the one hand, more discipline and, on the other hand, more flexibility in adjusting the level of real wages compared to more inflation-prone policy regimes? The answer to this question provides the basis for evaluating the interaction between monetary policy and wage bargaining strategies and exploring the scope for a change in coordination rules.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:stuchp:978-3-319-59247-3_6

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DOI: 10.1007/978-3-319-59247-3_6

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