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

by S. Dullien
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Current price ₹7,345.00
Original price ₹11,299.00
Original price ₹11,299.00
Original price ₹11,299.00
(-35%)
₹7,345.00
Current price ₹7,345.00

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Book cover type: Paperback
  • ISBN13: 9781349520800
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Springer
  • Publisher Imprint: Palgrave MacMillan
  • Publication Date:
  • Pages: 276
  • Original Price: EUR 99.99
  • Language: English
  • Edition: Softcover Repri
  • Item Weight: 369 grams
  • BISAC Subject(s): Money & Monetary Policy, Economics / Macroeconomics, and Political Economy

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 set-up is found to be unable to assure cooperation.

SEBASTIAN DULLIEN is Economics Correspondent at the Financial Times Deutschland, the German language edition of the FT. Previously he worked as a short term expert for the Deutsches Institut für Wirtschaftsforschung. He also teaches at the Freie Universität in Berlin.

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