Acocella, Nicola; Ciccarone, Giuseppe - In: Public Choice 91 (1997) 2, pp. 161-78
The claim that in policy games nonneutrality and a stagflation bias emerge in equilibrium if the unions care about inflation, per se, is discussed. This assumption is shown to be not necessary to obtain a stagflation bias; the same applies to nonneutrality if a government acts in the economy....
