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
Wage Rigidity, Collective Bargaining and the Minimum Wage: Evidence from French Agreement Data
- Economics
- 2010
- 6
- PDF
The issue of instability in a simple policy game between the central bank and a representative union
- Economics
- 2006
- 8
- PDF
Wage Rigidity, Collective Bargaining, and the Minimum Wage: Evidence from French Agreement Data
- Economics
- Review of Economics and Statistics
- 2013
- 46
- PDF
References
SHOWING 1-10 OF 68 REFERENCES
Economic Performance and Stabilization Policy in a Monetary Union with Imperfect Labour and Goods Markets
- Economics
- 2001
- 65
- PDF
Monetary Institutions, Monopolistic Competition, Unionized Labor Markets and Economic Performance
- Economics, Mathematics
- 2000
- 145
- PDF
The Nonneutrality of Monetary Policy with Large Price or Wage Setters
- Economics
- 2000
- 264
- Highly Influential
- PDF