The Interaction of Monetary Policy and Wage Bargaining in the European Monetary Union: Lessons from the Endogenous Money Approach

by Sebastian Dullien

Book Overview

Sebastian Dullien gives a novel explanation for unemployment and inflation in the Euro-Zone. He argues that unemployment stems from a lack of co-operation between unions and monetary authorities: In an economy with endogenous money as EMU, wage setters are responsible for price stability while the central bank is responsible for the level of output. Co-operation between both actors is necessary for high employment and low inflation. The current institutional...

• Format: Paperback
• Language: English
• ISBN: 1349520802
• ISBN13: 9781349520800
• Release Date: January 2004
• Publisher: Palgrave MacMillan
• Length: 276 Pages
• Weight: 0.75 lbs.
• Dimensions: 0.6" x 5.5" x 8.5"