EconStor >
Institut für Weltwirtschaft (IfW), Kiel >
Kieler Arbeitspapiere, IfW >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/24886
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorFaia, Esteren_US
dc.contributor.authorRossi, Lorenzaen_US
dc.date.accessioned2009-03-11en_US
dc.date.accessioned2009-04-09T07:48:37Z-
dc.date.available2009-04-09T07:48:37Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/24886-
dc.description.abstractWe study the design of optimal monetary policy (Ramsey policies) in a model with sticky prices and unionized labour markets. Collective wage bargaining and unions monopoly power tend to dampen wage fluctuations and to amplify employment fluctuations relatively to a DNK model with walrasian labour markets. The optimal monetary policy must trade-off counteracting forces. On the one side deviations from zero inflation allow the policy maker to smooth inefficient employment fluctuations. On other side, the presence of wage mark-ups and wage stickiness produce inflationary pressures that require aggressive inflation targeting. Overall we find that the Ramsey planner deviates from full price stability and that an optimal rule targets inflation the real economic activity alongside inflation.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel working paper 1490en_US
dc.subject.jelE0en_US
dc.subject.jelE4en_US
dc.subject.jelE5en_US
dc.subject.jelE6en_US
dc.subject.ddc330en_US
dc.subject.keywordOptimal monetary policyen_US
dc.subject.keywordlabour market unionizationen_US
dc.subject.keywordthreat pointsen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwInflation Targetingen_US
dc.subject.stwTarifpolitiken_US
dc.subject.stwGewerkschaftlicher Organisationsgraden_US
dc.subject.stwOptimale Besteuerungen_US
dc.subject.stwDynamisches Gleichgewichten_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwTheorieen_US
dc.titleUnions power, collective bargaining and optimal monetary policyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn593508440en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

Files in This Item:
File Description SizeFormat
593508440.PDF376.34 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.