Monetary institutions, imperfect competition and employment outcomes

George Chouliarakis and Monica Correa-Lopez

The North American Journal of Economics and Finance, 2011, vol. 22, issue 2, 131-148

Abstract: Abstract This paper explores the employment effects of strategic interactions between firms, trade unions and monetary institutions in the context of an imperfectly competitive macroeconomic model with right-to-manage bargaining. The results suggest that the employment effect of joining a monetary union is conditional upon the degree of monetary accommodation of the union-wide central bank, the degree of product market competition, and the relative bargaining power in wage-setting. In addition, the employment effect of a change in the degree of monetary accommodation of the domestic or the union-wide central bank is conditional upon the degree of product market competition and the distribution of bargaining power.

Keywords: Monetary; union; Monetary; policy; Oligopoly; Wage; bargaining; Employment (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecofin:v:22:y:2011:i:2:p:131-148

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