EconPapers    
Economics at your fingertips  
 

Is a Conservative Central Banker a (Perfect) Substitute for Wage Coordination?

Nicola Acocella and Giovanni Di Bartolomeo ()

Economic Change and Restructuring, 2004, vol. 31, issue 2, 281-294

Abstract: In a monetary union, macroeconomic policies are strongly associated with externalities that imply the need for coordination. However, if coordination is not complete, it might be unable to cope with the externalities. This paper investigates different solutions for internalizing policy externalities. In particular, we compare wage coordination to the conservative central banker solution, which the recent literature has found able to impose wage moderation on labor unions. We also discuss some issues related to labor flexibility reforms as a solution for the unemployment problem. Copyright Kluwer Academic Publishers 2004

Keywords: Conservative central bank; budget constraints; wage coordination; monetary union (search for similar items in EconPapers)
Date: 2004
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1007/s10663-004-0813-9 (text/html)
Access to full text is restricted to subscribers.

Related works:
Journal Article: Is a Conservative Central Banker a (Perfect) Substitute for Wage Coordination? (2004) Downloads
Working Paper: Is a conservative central banker a (perfect) substitute for wage coordination? (2003) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:ecopln:v:31:y:2004:i:2:p:281-294

Ordering information: This journal article can be ordered from
http://www.springer. ... nt/journal/10644/PS2

DOI: 10.1007/s10663-004-0813-9

Access Statistics for this article

Economic Change and Restructuring is currently edited by George Hondroyiannis

More articles in Economic Change and Restructuring from Springer
Bibliographic data for series maintained by Sonal Shukla ().

 
Page updated 2020-02-16
Handle: RePEc:kap:ecopln:v:31:y:2004:i:2:p:281-294