Journal article | Zeitschriftenartikel
The macroeconomics of social pacts
In this paper we analyze macroeconomic interactions between trade unions, the central bank and the fiscal policymaker. We explicitly model unions’ concern for public expenditure, paving the way for an analysis of the potential gains from cooperation between the fiscal policymaker and the unions, i.e. the so-called corporatist or social pacts that have characterized economic policies in a number of European countries in the last few decades. We also highlight the profoundly different incentives generated by institutional arrangements such as the Maastricht criteria and the Stability and Growth Pact. The former has unambiguously induced more efficient outcomes; the latter is likely to backfire.
- Extent
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Seite(n): 202-
- Language
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Englisch
- Notes
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Status: Postprint; begutachtet (peer reviewed)
- Bibliographic citation
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Journal of Economic Behavior & Organization, 72(1)
- Subject
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Wirtschaft
Volkswirtschaftstheorie
- Event
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Geistige Schöpfung
- (who)
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Acocella, Nicola
Di Bartolomeo, Giovanni
Tirelli, Patrizio
- Event
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Veröffentlichung
- (when)
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2009
- DOI
- URN
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urn:nbn:de:0168-ssoar-295103
- Rights
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GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln
- Last update
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21.06.2024, 4:27 PM CEST
Data provider
This object is provided by:
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln. If you have any questions about the object, please contact the data provider.
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln. If you have any questions about the object, please contact the data provider.
Object type
- Zeitschriftenartikel
Associated
- Acocella, Nicola
- Di Bartolomeo, Giovanni
- Tirelli, Patrizio
Time of origin
- 2009
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