Arbeitspapier
Unions Power, Collective Bargaining and Optimal Monetary Policy
We study Ramsey policies and optimal monetary policy rules in a model with sticky prices and unionized labour markets. Collective wage bargaining and unions monopoly power dampen wage fluctuations and amplify employment fluctuations relatively to a DNK model. The optimal monetary policy must trade-off between stabilizing inflation and reducing inefficient unemployment fluctuations induced by unions' monopoly power. In this context the monetary authority uses inflation as a tax on unions' rents. The optimal monetary policy rule targets unemployment alongside inflation.
- Sprache
-
Englisch
- Erschienen in
-
Series: Quaderni di Dipartimento ; No. 126
Klassifikation
Wirtschaft
Ereignis
Geistige Schöpfung
(wer)
Faia, Ester
Rossi, Lorenza
Rossi, Lorenza
Ereignis
Veröffentlichung
(wer)
Università degli Studi di Pavia, Dipartimento di Economia Politica e Metodi Quantitativi (EPMQ)
(wo)
Pavia
(wann)
2010
- Handle
- Letzte Aktualisierung
-
12.07.2024, 13:23 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Faia, Ester
- Rossi, Lorenza
- Università degli Studi di Pavia, Dipartimento di Economia Politica e Metodi Quantitativi (EPMQ)
Entstanden
- 2010
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