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Zentralbank-Politik und makroökonomische Ergebnisse: eine sozio-institutionelle Interpretation
[Central Bank Policies and Macroeconomic Results: A Socio-institutional Interpretation]

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  • Hein, Eckhard

Abstract

We deal with monetary policies as an institution which has a crucial impact on the economic process but is itself object of distribution conflict. For this purpose we make use of the „Social Structures of Accumulation“ approach. We integrate central bank policies into this approach and derive a typology of potential central bank regimes, depending on capital-labor relations and firms-rentiers relations. This typology is used in order to interpret post World War II development. Finally, some empirical studies on central banking and labour market institutions are surveyed in order to derive some perspectives for employment and inflation under the conditions of independent central banks.

Suggested Citation

  • Hein, Eckhard, 1999. "Zentralbank-Politik und makroökonomische Ergebnisse: eine sozio-institutionelle Interpretation [Central Bank Policies and Macroeconomic Results: A Socio-institutional Interpretation]," MPRA Paper 18881, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:18881
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    References listed on IDEAS

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    1. Hein, Eckhard, 2001. "Institutions and macroeconomic performance: Central bank independence, labour market institutions and the perspectives for inflation and employment in the European Monetary Union," WSI Working Papers 95, The Institute of Economic and Social Research (WSI), Hans Böckler Foundation.
    2. Bieling, Hans-Jürgen & Schulten, Thorsten, 2001. "Competitive restructuring and industrial relations within the European Union: Corporatist involvement and beyond?," WSI Working Papers 99, The Institute of Economic and Social Research (WSI), Hans Böckler Foundation.
    3. Michael Mesch, 2000. "Vom Wettbewerbskorporatismus zur transnationalen Koordination der Lohnpolitik in der EU? (Teil 2)," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 26(1), pages 7-63.
    4. Schulten, Thorsten, 2002. "Europeanisation of collective bargaining: An overview on trade union initiatives for a transnational coordination of collective bargaining policy," WSI Working Papers 101, The Institute of Economic and Social Research (WSI), Hans Böckler Foundation.

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    More about this item

    Keywords

    Central bank policies; distribution conflict; labour market institutions; employment;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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