Эксоцман
на главную поиск contacts

The Interaction Between Labor Market Policy and Monetary Policy: An Analysis of Time Inconsistency Problems.

Опубликовано на портале: 08-12-2002
Тематический раздел:
This paper studies the interaction between time inconsistency problems in labor market policy and monetary policy. When both policies are discretionary, there is a positive inflation bias, whereas the bias in labor market programs may be either positive or negative. A commitment of labor market programs to zero increases inflation, as compared to the case when both labor market policy and monetary policy are discretionary. Delegation of labor market policy to a liberal labor market board may improve the discretionary outcome, even if labor market programs crowd out regular employment. A conservative central bank always reduces the social loss, even when monetary policy interacts with labor market policy.

Ссылки
http://www.iies.su.se/publications/seminarpapers/708.pdf
PDF Document
сохранить
[512 КБ]
BiBTeX
RIS
Ключевые слова

См. также:
Sebastian Edwards, I. Igal Magendzo
NBER Working Paper Series. 2001. 
[Статья]
Paul J. Zak
[Книга]
Cindy Moons, Harry Garretsen, Bas van Aarle, Jorge Fornero
Journal of Policy Modeling. 2007.  Vol. 29. No. 6. P. 879-902. 
[Статья]
Michael F. Bryan
Federal Reserve Bank of Cleveland. 1997. 
[Статья]
Наталья Владимировна Шварева
[Статья глоссария]