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Book synopsis

Sebastian Dullien gives a novel explanation for unemployment and inflation in the Euro-Zone. He argues that unemployment stems from a lack of co-operation between unions and monetary authorities: In an economy with endogenous money as EMU, wage setters are responsible for price stability while the central bank is responsible for the level of output. Co-operation between both actors is necessary for high employment and low inflation. The current institutional set-up is found to be unable to assure cooperation.

Book details

Book category Books in English Economics, finance, business & management Economics Macroeconomics

• Full title: Interaction of Monetary Policy and Wage Bargaining in the European Monetary Union
• Author: Sebastian Dullien
• Language: English
• Binding: Hardback
• Number of pages: 276
• EAN: 9781403941510
• ISBN: 1403941513
• ID: 04776296
• Publisher: Palgrave USA
• Weight: 495 g
• Dimensions: 216 × 140 × 22 mm
• Date of publishing: 11. October 2004

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