Macroeconomics of Monetary Union pp 155-159 | Cite as
Simultaneous Decisions: Gradualist Policies
Chapter
Abstract
This chapter deals with competition between the European central bank, the German labour union, and the French labour union. So far we have assumed that the central bank and the labour unions follow a cold-turkey strategy. Now we assume that the central bank and the labour unions follow a gradualist strategy. In addition, we assume that the central bank and the labour unions decide simultaneously and independently.
Keywords
Monetary Policy Central Bank Money Supply Labour Union European Central Bank
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© Springer-Verlag Berlin Heidelberg 2007