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Labor market regimes and monetary policy

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

Macroeconomics from University Library of Munich, Germany

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: 2003-07-30
Note: Type of Document - pdf; prepared on IBM PC; pages: 22
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