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The Cost Of Social Pacts

  • Nicola Acocella
  • Giovanni Bartolomeo

Social pacts, while improving macroeconomic performance, usually impose costs on unions. To facilitate the formation of such pacts, various substitutes can operate, such as the payment of transfers or, to some extent, the conservativeness of the government, union’s inflation aversion or political partisanship.

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File URL: http://hdl.handle.net/10.1111/boer.2013.65.issue-3
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Article provided by Wiley Blackwell in its journal Bulletin of Economic Research.

Volume (Year): 65 (2013)
Issue (Month): 3 (07)
Pages: 238-255

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Handle: RePEc:bla:buecrs:v:65:y:2013:i:3:p:238-255
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  1. 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.
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  9. Avdagic, Sabina & Rhodes, Martin & Visser, Jelle, 2005. "The Emergence and Evolution of Social Pacts: A Provisional Framework for Comparative Analysis," European Governance Papers (EUROGOV) 1, CONNEX and EUROGOV networks.
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  11. Skott, Peter, 1997. "Stagflationary Consequences of Prudent Monetary Policy in a Unionized Economy," Oxford Economic Papers, Oxford University Press, vol. 49(4), pages 609-22, October.
  12. Francesco Lippi, 2003. "Strategic Monetary Policy with Non-Atomistic Wage Setters," CEIS Research Paper 17, Tor Vergata University, CEIS.
  13. Lawler, Phillip, 2000. "Centralised Wage Setting, Inflation Contracts, and the Optimal Choice of Central Banker," Economic Journal, Royal Economic Society, vol. 110(463), pages 559-75, April.
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  16. Cukierman, A. & Lippi, F., 1998. "Central Bank Independence, Centralization of Wage Bargaining, Inflation and Unemployment: Theory and Evidence," Papers 332, Banca Italia - Servizio di Studi.
  17. CAEYERS, Bet & PAUWELS, Wilfried, 2006. "Corporatism and macroeconomic stabilization policies," Working Papers 2006035, University of Antwerp, Faculty of Applied Economics.
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  24. Acocella, Nicola & Ciccarone, Giuseppe, 1997. "Trade Unions, Nonneutrality and Stagflation," Public Choice, Springer, vol. 91(2), pages 161-78, April.
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  26. Coricelli, Fabrizio & Cukierman, Alex & Dalmazzo, Alberto, 2001. "Economic Performance and Stabilization Policy in a Monetary Union with Imperfect Labour and Goods Markets," CEPR Discussion Papers 2745, C.E.P.R. Discussion Papers.
  27. Guzzo, Vincenzo & Velasco, Andres, 1999. "The case for a populist Central Banker," European Economic Review, Elsevier, vol. 43(7), pages 1317-1344, June.
  28. Jerger, Jurgen, 2002. "Socially optimal monetary policy institutions," European Journal of Political Economy, Elsevier, vol. 18(4), pages 761-781, November.
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