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Title:Wage setting under different monetary regimes PDF Logo
Authors:Holden, Steinar
Issue Date:1999
Series/Report no.:Memorandum, Department of Economics, University of Oslo 1999,12
Abstract:In a model with a traded and a non-traded sector and centralised wage setting within each sector, it is shown that the monetary regime affects the trade-off between consumer real wages and employment and profits. Thus, the monetary regime affects the outcome of the wage negotiations, and consequently also the equilibrium level of unemployment. An exchange rate target is likely to involve lower wages and higher employment in the traded sector, and higher wages and lower employment in the non-traded sector, than does a price target. – wages ; bargaining ; inflation target ; monetary regime ; equilibrium unemployment
JEL:J5
E5
Document Type:Working Paper
Appears in Collections:Memorandum, Department of Economics, University of Oslo

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