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Unemployment in the United Kingdom has fallen from high European-style levels to US levels. I argue that the key … monetary policy as an institutional change that reduced inflationary pressures in the face of falling unemployment. The decline …
Persistent link: https://www.econbiz.de/10001803225
Unemployment in the United Kingdom has fallen from high European-style levels to US levels. I argue that the key … monetary policy as an institutional change that reduced inflationary pressures in the face of falling unemployment. The decline …
Persistent link: https://www.econbiz.de/10011508067
Persistent link: https://www.econbiz.de/10001925347
Persistent link: https://www.econbiz.de/10003339484
In an economy with large wage setters (like industry unions), the monetary regime affects the trade-off between consumer real wages and employment and profits faced by the wage setters. This paper shows that an exchange rate target, including participation in a monetary union, is likely to...
Persistent link: https://www.econbiz.de/10011408717
We analyse the moderating effect of trade unions on industrial employment and unemployment in countries facing exposure … the industry sector employment of young and low-educated workers. We also show that the unemployment rates for low … countries, low-educated unemployment declines with robot exposure but from a higher starting point. Our results point to unions …
Persistent link: https://www.econbiz.de/10012886833
of firms, implying a reduction of the unions' expected bargaining power. Moreover, union heterogeneity constitutes an (un)employment … liberalization will increase (decrease) unemployment. …
Persistent link: https://www.econbiz.de/10011879328
We 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...
Persistent link: https://www.econbiz.de/10003811855
In theoretical literature, the effects of employment protection on unemployment are ambiguous. Higher employment … can unambiguously increase unemployment. Interestingly, I find that tightening the restrictions on redundancies and …
Persistent link: https://www.econbiz.de/10012991153
create a vicious circle of depreciation and rising domestic prices, and about the roles played by the natural unemployment …
Persistent link: https://www.econbiz.de/10011294097