Essays on Wage Bargaining in Dynamic Macroeconomics is popular PDF and ePub book, written by Oliver Claas in 2019-11-20, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Essays on Wage Bargaining in Dynamic Macroeconomics can be Read Online from any device for your convenience.
Essays on Wage Bargaining in Dynamic Macroeconomics Book PDF Summary
This book addresses collective bargaining in an intertemporal monetary macroeconomy of the aggregate supply–aggregate demand (AS–AD) type with overlapping generations of consumers and with a public sector. The results are presented in a unified framework with a commodity market that clears competitively. By analyzing the implications of three variants of collective bargaining – efficient bargaining in a uniform and a segmented labor market and “right-to-manage” wage bargaining – it identifies the quantity of money, price expectations, union power, and union size as the determinants of temporary equilibria. In the three scenarios, it characterizes and compares the temporary equilibria using both analytical and numerical techniques, with an emphasis on allocations, welfare, and efficiency. It also discusses the dynamic evolution under rational expectations and its steady states in nominal and real terms. Lastly, it demonstrates conditions for stability regarding a balanced monetary expansion of the economy.
Detail Book of Essays on Wage Bargaining in Dynamic Macroeconomics PDF
- Author : Oliver Claas
- Release : 20 November 2019
- Publisher : Springer Nature
- ISBN : 9783319978284
- Genre : Business & Economics
- Total Page : 161 pages
- Language : English
- PDF File Size : 14,9 Mb
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