Monetary and Wage Policies in the Euro Area

  • Michael Carlberg

Table of contents

  1. Front Matter
    Pages I-XVI
  2. Introduction

    1. Pages 1-10
  3. Basic Models of a Monetary Union

  4. Monetary Interactions between Europe and America

  5. Wage Interactions between Germany and France

  6. Monetary and Wage Interactions Intermediate Models

  7. Monetary and Wage Interactions Advanced Models

  8. Rational Policy Expectations

  9. Back Matter
    Pages 245-309

About this book


This book studies the interactions between monetary and wage policies in the euro area. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the European central bank, the American central bank, the German labour union, and the French labour union. As to policy cooperation, the focus is on the same institutions. These are higher-dimensional issues. The policy targets are price stability and full employment. The policy makers follow cold-turkey or gradualist strategies. The policy decisions are taken sequentially or simultaneously. Monetary and wage policies have spillover effects. Special features of this book are numerical simulations of policy competition and numerical solutions to policy cooperation.   


Euro European Monetary Union International Policy Coordination Monetary Policy Simulation Wage Policy

Authors and affiliations

  • Michael Carlberg
    • 1
  1. 1.Helmut Schmidt UniversityFederal University of HamburgHamburgGermany

Bibliographic information

  • DOI
  • Copyright Information Springer Berlin · Heidelberg 2006
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Business and Economics
  • Print ISBN 978-3-540-36933-2
  • Online ISBN 978-3-540-36934-9
  • Buy this book on publisher's site