Monetary accommodation and unemployment: Why central bank transparency matters
AbstractRecent contributions have shown that in the presence of strategic interactions be- tween non atomistic unions and the central bank, an accommodating monetary policy rule may increase equilibrium unemployment. This note demonstrates that this result can be reversed considering the case where the central bank is not fully transparent concerning its reaction to wage decisions.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg in its series Working Papers of BETA with number 2007-27.
Date of creation: 2007
Date of revision:
Contact details of provider:
Postal: PEGE. 61, Aven. de la Forêt-Noire 67000 Strasbourg
Phone: +33 3 68 85 20 69
Fax: +33 3 68 85 20 70
Web page: http://www.beta-umr7522.fr/
More information through EDIRC
Monetary regime; Wage setting; Central bank transparency.;
Other versions of this item:
- Spyromitros, Eleftherios & Zimmer, Blandine, 2009. "Monetary accommodation and unemployment: Why central bank transparency matters," Economics Letters, Elsevier, vol. 102(2), pages 119-121, February.
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
- J51 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Trade Unions: Objectives, Structure, and Effects
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-08-08 (All new papers)
- NEP-CBA-2007-08-08 (Central Banking)
- NEP-MAC-2007-08-08 (Macroeconomics)
- NEP-MON-2007-08-08 (Monetary Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Steinar Holden, 2001.
"Monetary Regimes and the Co-Ordination of Wage Setting,"
CESifo Working Paper Series
429, CESifo Group Munich.
- Holden, Steinar, 2005. "Monetary regimes and the co-ordination of wage setting," European Economic Review, Elsevier, vol. 49(4), pages 833-843, May.
- Holden,S., 2000. "Monetary regime and the co-ordination of wage setting," Memorandum 01/2000, Oslo University, Department of Economics.
- Fabrizio Coricelli & Alex Cukierman & Alberto Dalmazzo, 2006.
"Monetary Institutions, Monopolistic Competition, Unionized Labor Markets and Economic Performance,"
Scandinavian Journal of Economics,
Wiley Blackwell, vol. 108(1), pages 39-63, 03.
- Coricelli, Fabrizio & Cukierman, Alex & Dalmazzo, Alberto, 2000. "Monetary Institutions, Monopolistic Competition, Unionized Labour Markets And Economic Performance," CEPR Discussion Papers 2407, C.E.P.R. Discussion Papers.
- Soskice, David & Iversen, Torben, 1998. "Multiple Wage-Bargaining Systems in the Single European Currency Area," Oxford Review of Economic Policy, Oxford University Press, vol. 14(3), pages 110-24, Autumn.
- Gruener Hans Peter & Hayo Bernd & Hefeker Carsten, 2009.
"Unions, Wage Setting and Monetary Policy Uncertainty,"
The B.E. Journal of Macroeconomics,
De Gruyter, vol. 9(1), pages 1-25, October.
- Grüner, Hans Peter & Hayo, Bernd & Hefeker, Carsten, 2005. "Unions, wage setting and monetary policy uncertainty," Working Paper Series 0490, European Central Bank.
- David Soskice & Torben Iversen, 2000. "The Nonneutrality Of Monetary Policy With Large Price Or Wage Setters," The Quarterly Journal of Economics, MIT Press, vol. 115(1), pages 265-284, February.
- Sánchez, Marcelo, 2012. "Inflation uncertainty and unemployment uncertainty: Why transparency about monetary policy targets matters," Economics Letters, Elsevier, vol. 117(1), pages 119-122.
- Sánchez, Marcelo, 2011. "Monetary strictness and labour market outcomes under incomplete transparency," Research in Economics, Elsevier, vol. 65(2), pages 95-99, June.
- Sánchez, Marcelo, 2013. "Monetary accommodation, imperfect central bank transparency and optimal delegation," Economics Letters, Elsevier, vol. 120(3), pages 392-396.
- Meixing Dai, 2012. "Static and Dynamic Effects of Central Bank Transparency," Working Papers of BETA 2012-08, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.