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Robustness and feasibility of corporatism

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  • Nicola Acocella
  • Giovanni Di Bartolomeo

Abstract

By considering a standard game between the Government and a centralised trade union, we investigate the robustness of the claim that corporatism has a positive effect on macroeconomic performance. We test this claim with respect to different kinds of non-co-operative equilibria, model parameterisations and union’s utility functions (different in both form and arguments). Furthermore, we introduce in the literature the issue of the feasibility of corporatism, i.e., whether and under what conditions it is in the interest of both agents to implement a corporatist approach to economic policies.

Suggested Citation

  • Nicola Acocella & Giovanni Di Bartolomeo, 2001. "Robustness and feasibility of corporatism," Working Papers 44, University of Rome La Sapienza, Department of Public Economics.
  • Handle: RePEc:sap:wpaper:wp44
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    References listed on IDEAS

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    1. Cukierman, Alex & Lippi, Francesco, 1998. "Central Bank Independence, Centralization of Wage Bargaining, Inflation and Unemployment - Theory and Evidence," CEPR Discussion Papers 1847, C.E.P.R. Discussion Papers.
    2. Silvia Fabiani & Alberto Locarno & Gian Paolo Oneto & Paolo Sestito, 1997. "NAIRU: Incomes Policy and Inflation," OECD Economics Department Working Papers 187, OECD Publishing.
    3. Renato Balducci, 1999. "Concertazione tra le parti sociali e disoccupazione," Politica economica, Società editrice il Mulino, issue 1, pages 3-26.
    4. Acocella, Nicola & Ciccarone, Giuseppe, 1997. "Trade Unions, Nonneutrality and Stagflation," Public Choice, Springer, vol. 91(2), pages 161-178, April.
    5. Cubitt, Robin P, 1995. " Corporatism, Monetary Policy and Macroeconomic Performance: A Simple Game Theoretic Analysis," Scandinavian Journal of Economics, Wiley Blackwell, vol. 97(2), pages 245-259, June.
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    More about this item

    Keywords

    employment; inflation; trade unions; Government; corporatism; policy game; feasibility.;

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • J51 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Trade Unions: Objectives, Structure, and Effects

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