In this paper we investigate the effects on the real gross wage of the collective bargaining agreements signed at the beginning of 2009 between the employers' confederations, trade unions (with the exception of CGIL, tha largest union) and the Government (as an employer). We use a dynamic model...

The uncovered interest rate parity condition lies at the heart of the "impossible trinity", stating that the three objectives of fixed exchange rates, free capital flows, and independent monetary policy cannot be pursued simultaneously. We argue that although monetary unification does indeed...