Strategic Monetary Policy with Non-Atomistic Wage Setters

Francesco Lippi

CEIS Research Paper from Tor Vergata University, CEIS

Abstract: Monetary policy analyses usually assume an atomistic private sector, thereby ignoring potential interactions between policy and wage-setting decisions. Yet, non-atomistic wage setters are a key feature of several industrialized economies. We study the economic consequence of non-atomistic agents and show that this qualifies previous results on the effects and desirability of a conservative central banker. In particular, the central bank aversion to inflation may have a permanent effect on structural employment, while no such effect emerges with atomistic agents.

Keywords: conservatism; non-atomistic agents; wage-setting (search for similar items in EconPapers)
JEL-codes: E5 J5 (search for similar items in EconPapers)
Pages: 21
Date: 2003-05-22
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (44)

Downloads: (external link)
https://ceistorvergata.it/RePEc/rpaper/No-17-Lippi.pdf (application/pdf)

Related works:
Journal Article: Strategic Monetary Policy with Non-Atomistic Wage Setters (2003)
Working Paper: Strategic Monetary Policy with Non-Atomistic Wage-Setters (2000)
Working Paper: Strategic Monetary Policy with Non Atomistic Wage Setters (2000)
Working Paper: Strategic Monetary Policy with Non-Atomistic Wage-Setters (2000)
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:rtv:ceisrp:17

Ordering information: This working paper can be ordered from
CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma
https://ceistorvergata.it

Access Statistics for this paper

More papers in CEIS Research Paper from Tor Vergata University, CEIS CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma. Contact information at EDIRC.
Bibliographic data for series maintained by Barbara Piazzi ().