Labor Market Regimes and the Effects of Monetary Policy

@inproceedings{Hibbs2004LaborMR,
  title={Labor Market Regimes and the Effects of Monetary Policy},
  author={Douglas A. Hibbs and N. Acocella and Giovanni Di Bartolomeo},
  year={2004}
}
In this paper we use a standard multi-union, monopolistic competition model to evaluate analytically and numerically the effects of monetary policy on inflation and unemployment under different institutional arrangements in the labor market that are defined by the rigidity of nominal wages. We show that the effects of monetary policy on the real economy depend critically on the wage formation regime, and on the ways in which the restrictiveness of policy interacts with product price competition… CONTINUE READING
29 Citations
Labour Market and Monetary Policy in South Africa
  • 13
  • Highly Influenced
  • PDF
Monetary strictness and labour market outcomes under incomplete transparency
  • 2
  • PDF
Wage Rigidity, Collective Bargaining, and the Minimum Wage: Evidence from French Agreement Data
  • 46
  • PDF

References

SHOWING 1-10 OF 68 REFERENCES
Labor Markets and Monetary Union: a Strategic Analysis
  • 263
  • PDF
The interaction of monetary policy and wages
  • 90
Monetary Institutions, Monopolistic Competition, Unionized Labor Markets and Economic Performance
  • 145
  • PDF
Stabilisation, Policy Targets and Unemployment in Imperfectly Competitive Economies
  • 67
The Nonneutrality of Monetary Policy with Large Price or Wage Setters
  • 264
  • Highly Influential
  • PDF
Socially Optimal Monetary Policy Institutions
  • 22
  • PDF