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dc.contributor.authorPusch, Toralfen
dc.contributor.authorHeise, Arneen
dc.date.accessioned2010-10-19-
dc.date.accessioned2010-10-27T09:52:24Z-
dc.date.available2010-10-27T09:52:24Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/41337-
dc.description.abstractIt is now a few years since the introduction of the common currency, and Europe is still experiencing high unemployment. The conventional logic attributes this problem to strong trade unions and other flaws in the labour market. This article takes a different approach. Using a game theoretic model we look at the changes that occur if trade unions and the central bank have different options to choose from in a climate of uncertainty. In a singlestage game the most probable outcome is a high unemployment rate as high as the NAIRU. However, there is also a slight chance that a central bank might take the risk associated with employment expansion (if trade unions cooperate the risk pays off). Moreover, results change dramatically if the game is repeated. This allows for effects on the trade union's reputation. It can be shown that this, in turn, improves the likelihood of employment expansion.en
dc.language.isoengen
dc.publisher|aUniversität Hamburg, Department Wirtschaft und Politik |cHamburgen
dc.relation.ispartofseries|aArbeitspapiere für Staatswissenschaft |x31en
dc.subject.jelC72en
dc.subject.jelE12en
dc.subject.jelE24en
dc.subject.jelE58en
dc.subject.jelJ51en
dc.subject.ddc300en
dc.subject.keywordMonetary Policyen
dc.subject.keywordlabour unionsen
dc.subject.keywordreputation buildingen
dc.subject.keywordemploymenten
dc.subject.keywordEMUen
dc.subject.stwGeldpolitiken
dc.subject.stwLohnpolitiken
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwWiederholte Spieleen
dc.subject.stwReputationen
dc.subject.stwGewerkschaften
dc.subject.stwVollbeschäftigungen
dc.subject.stwInflationsbekämpfungen
dc.subject.stwTheorieen
dc.subject.stwEU-Staatenen
dc.titleCentral banks, trade unions and reputation - is there room for an expansionist manoeuvre in the European Union?-
dc.typeWorking Paperen
dc.identifier.ppn637036670en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:uhhafs:31en

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