Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/24886 
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dc.contributor.authorFaia, Esteren
dc.contributor.authorRossi, Lorenzaen
dc.date.accessioned2009-03-11-
dc.date.accessioned2009-04-09T07:48:37Z-
dc.date.available2009-04-09T07:48:37Z-
dc.date.issued2008-
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x1490en
dc.subject.jelE0en
dc.subject.jelE4en
dc.subject.jelE5en
dc.subject.jelE6en
dc.subject.ddc330en
dc.subject.keywordOptimal monetary policyen
dc.subject.keywordlabour market unionizationen
dc.subject.keywordthreat pointsen
dc.subject.stwGeldpolitiken
dc.subject.stwInflation Targetingen
dc.subject.stwTarifpolitiken
dc.subject.stwGewerkschaftlicher Organisationsgraden
dc.subject.stwOptimale Besteuerungen
dc.subject.stwDynamisches Gleichgewichten
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwTheorieen
dc.titleUnions power, collective bargaining and optimal monetary policy-
dc.typeWorking Paperen
dc.identifier.ppn593508440en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:1490en

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