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Comment on H. Tson Söderström,“Union Militancy, External Shocks and the Accommodation Dilemma”

In: Trade Unions, Wage Formation and Macroeconomic Stability

Author

Listed:
  • Guido Bruyne

    (University of Louvain)

  • Edmund Phelps

    (Columbia University)

Abstract

Söderström’s paper is an original and valuable contribution to the interesting and, in my opinion, highly relevant problem of whether or not and to what extent a nonaccommodation policy is an optimal government strategy in the presence of centralized wage setting and external shocks. The author forcefully stresses the benefits of gradualism, thereby dismissing the “all or nothing” choice that usually governs the literature on the accommodation problem.

Suggested Citation

  • Guido Bruyne & Edmund Phelps, 1986. "Comment on H. Tson Söderström,“Union Militancy, External Shocks and the Accommodation Dilemma”," Palgrave Macmillan Books, in: Lars Calmfors & Henrik Horn (ed.), Trade Unions, Wage Formation and Macroeconomic Stability, pages 210-214, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-08596-5_13
    DOI: 10.1007/978-1-349-08596-5_13
    as

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