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Zur Interdependenz von Geld- und Lohnpolitik: Makroökonometrische Ex-post und Ex-ante Simulationen verschiedener Szenarien für die Bundesrepublik Deutschland
[On the interdependence of monetary and wage policies: Macro-econometric ex-post and ex-ante simulations of different scenarios for Germany]

Author

Listed:
  • Bartsch, Klaus
  • Hein, Eckhard
  • Truger, Achim

Abstract

Using a macroeconometric model we simulate different scenarios for alternative wage and monetary policies and their effects on macroeconomic performance in Germany. First, ex post scenarios for the period from 1991 until 2000 are simulated, and then ex ante scenarios for the period from 2001 until 2006 will be generated. On the one hand, open economy effects will be taken into account, in particular Germany's integration into the Euro area. On the other hand, interdependencies between monetary and wage policies will be examined.

Suggested Citation

  • Bartsch, Klaus & Hein, Eckhard & Truger, Achim, 2001. "Zur Interdependenz von Geld- und Lohnpolitik: Makroökonometrische Ex-post und Ex-ante Simulationen verschiedener Szenarien für die Bundesrepublik Deutschland
    [On the interdependence of monetary and
    ," MPRA Paper 18715, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:18715
    as

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    File URL: https://mpra.ub.uni-muenchen.de/18715/1/MPRA_paper_18715.pdf
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    References listed on IDEAS

    as
    1. Kenneth Rogoff, 1985. "The Optimal Degree of Commitment to an Intermediate Monetary Target," The Quarterly Journal of Economics, Oxford University Press, vol. 100(4), pages 1169-1189.
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    3. Paul Davidson, 1994. "Post Keynesian Macroeconomic Theory," Books, Edward Elgar Publishing, number 124.
    4. Posen, Adam, 1998. "Central Bank Independence and Disinflationary Credibility: A Missing Link?," Oxford Economic Papers, Oxford University Press, vol. 50(3), pages 335-359, July.
    5. Philip Arestis & Fernando Ferrari-Filho & Luiz Fernando de Paula, 2011. "Inflation targeting in Brazil," International Review of Applied Economics, Taylor & Francis Journals, vol. 25(2), pages 127-148.
    6. Arestis, Philip & McCauley, Kevin & Sawyer, Malcolm, 2001. "An Alternative Stability Pact for the European Union," Cambridge Journal of Economics, Oxford University Press, vol. 25(1), pages 113-130, January.
    7. Berger, Helge & de Haan, Jakob & Eijffinger, Sylvester C W, 2001. " Central Bank Independence: An Update of Theory and Evidence," Journal of Economic Surveys, Wiley Blackwell, vol. 15(1), pages 3-40, February.
    8. Jörg Bibow, 2001. "Making EMU Work: Some Lessons from the 1990s," Macroeconomics 0103008, University Library of Munich, Germany.
    9. Taylor, John B., 1983. "`Rules, discretion and reputation in a model of monetary policy' by Robert J. Barro and David B. Gordon," Journal of Monetary Economics, Elsevier, vol. 12(1), pages 123-125.
    10. Jorg Bibow, 2001. "Making EMU Work: Some Lessons from the 1990s," Economics Working Paper Archive wp_326, Levy Economics Institute.
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    12. Manfred Gärtner, 1997. "Central Bank Independence and the Sacrifice Ratio: The Dark Side of the Force," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 133(III), pages 513-538, September.
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    Cited by:

    1. Eckhard Hein & Torsten Niechoj, 2005. "Leitlinien für ein dauerhaftes Wachstum in der EU? Konzept und Wirkung der "Grundzüge der Wirtschaftspolitik"," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 31(1), pages 11-40.
    2. 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.

    More about this item

    Keywords

    Monetary policy; wage policy; macroeconometric simulations; Germany;

    JEL classification:

    • 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
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications

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