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Macroeconomic Implications of Cash Limits in the Public Sector

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Author Info
Holmlund, Bertil

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Abstract

A cash limit is a fixed amount of money available for pay prior to the wage negotiations in the public sector. This paper examines the macroeconomic implications of cash limits in a unionized economy with decentralized wage bargaining in both private and public sectors. The author focuses in particular on the linkages between changes in the cash limit, wage-setting, and employment in public and private sectors. Equilibrium unemployment is independent of the size of the public sector if there are no sectoral differences in the unions' relative bargaining power. In general, unemployment may rise or fall by public-sector expansion accomplished by means of an increase in the cash limit; unemployment increases if unions are relatively more powerful in the public than in the private sector. Copyright 1997 by The London School of Economics and Political Science

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Publisher Info
Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 64 (1997)
Issue (Month): 253 (February)
Pages: 49-62
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Handle: RePEc:bla:econom:v:64:y:1997:i:253:p:49-62

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  1. Frederick van der Ploeg, 2003. "Rolling Back the Public Sector -- Differential Effects on Employment, Investment and Growth," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
    Other versions:
  2. Frederick van der Ploeg, 2003. "Do Social Policies Harm Employment and Growth?," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
  3. Michele Santoni, 2001. "Discriminatory procurement policy with cash limits can lower imports: an example," Departemental Working Papers 2001-03, Department of Economics University of Milan Italy. [Downloadable!]
  4. Alberto Alesina et al., 2002. "Fiscal Policy, Profits, and Investment," American Economic Review, American Economic Association, vol. 92(3), pages 571-589, June. [Downloadable!] (restricted)
    Other versions:
  5. Holmlund, Bertil & Kolm, Ann-Sofie, 1999. "Economic Integration, Imperfect Competition, and International Policy Coordination," Working Paper Series 1999:7, Uppsala University, Department of Economics. [Downloadable!]
    Other versions:
  6. Lorenzo Forni & Raffaela Giordano, 2003. "Employment in the Public Sector," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
  7. Céline Choulet, 2004. "Public employment and labour market performance : centralization wage setting effects," Cahiers de la Maison des Sciences Economiques v04036, Université Panthéon-Sorbonne (Paris 1). [Downloadable!]
  8. Holmlund, Bertil, 2003. "The Rise and Fall of Swedish Unemployment," Working Paper Series 2003:13, Uppsala University, Department of Economics. [Downloadable!]
    Other versions:
  9. Céline Choulet, 2006. "Public jobs creation and unemployment dynamics," Cahiers de la Maison des Sciences Economiques v06026, Université Panthéon-Sorbonne (Paris 1). [Downloadable!]
  10. Michele Santoni, 2002. "Discriminatory Procurement Policy with Cash Limits," Open Economies Review, Springer, vol. 13(1), pages 27-45, January. [Downloadable!] (restricted)
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