Optimal central bank conservatism and monopoly trade unions /
Saved in:
| Author / Creator: | Berger, Helge. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2002. |
| Description: | 1 online resource (29 pages) |
| Language: | English |
| Series: | IMF working paper ; WP/02/44 IMF working paper ; WP/02/44. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12497820 |
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| 050 | 4 | |a HG3881.5.I58 |b W67 no.02/44 | |
| 100 | 1 | |a Berger, Helge. | |
| 245 | 1 | 0 | |a Optimal central bank conservatism and monopoly trade unions / |c Helge Berger, Carsten Hefeker, and Ronnie Schöb. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2002. | ||
| 300 | |a 1 online resource (29 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/02/44 | |
| 504 | |a Includes bibliographical references (pages 28-29). | ||
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
| 583 | 1 | |a digitized |c 2010 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 588 | 0 | |a Print version record. | |
| 520 | |a The "conservative central banker" has come under attack recently. On the basis of models in which there is explicit interaction between trade union behavior and monetary policy, it has been argued that if 'trade unions' are averse to inflation, welfare will be lower with a conservative than with a liberal central bank. We reframe this discussion in a standard trade union model. We show that the case against the conservative central banker rests exclusively on the assumption of a strictly nominal outside option (for instance, unemployment benefits) for the union. There is no welfare gain associated with making the central bank less conservative than society, however, if the outside option is in real terms. As the nominal components of the trade union's outside option are mainly public transfers, we also show that the conservative central banker is always optimal if the government can choose the level of nominal unemployment benefits as well as the degree of central bank conservatism. | ||
| 650 | 0 | |a Banks and banking, Central |x Econometric models. | |
| 650 | 0 | |a Monetary policy |x Econometric models. | |
| 650 | 0 | |a Inflation (Finance) |x Econometric models. | |
| 650 | 0 | |a Labor unions |x Econometric models. | |
| 650 | 6 | |a Banques centrales |x Modèles économétriques. | |
| 650 | 6 | |a Politique monétaire |x Modèles économétriques. | |
| 650 | 6 | |a Inflation |x Modèles économétriques. | |
| 650 | 6 | |a Syndicats |x Modèles économétriques. | |
| 650 | 7 | |a Banks and banking, Central |x Econometric models. |2 fast |0 (OCoLC)fst00827041 | |
| 650 | 7 | |a Inflation (Finance) |x Econometric models. |2 fast |0 (OCoLC)fst00972453 | |
| 650 | 7 | |a Monetary policy |x Econometric models. |2 fast |0 (OCoLC)fst01025234 | |
| 655 | 4 | |a Electronic books. | |
| 700 | 1 | |a Hefeker, Carsten. | |
| 700 | 1 | |a Schöb, Ronnie. | |
| 710 | 2 | |a International Monetary Fund. |b European I Department. |0 http://id.loc.gov/authorities/names/no92021092 | |
| 776 | 0 | 8 | |i Print version: |a Berger, Helge. |t Optimal central bank conservatism and monopoly trade unions. |d [Washington, D.C.] : International Monetary Fund, ©2002 |w (OCoLC)49545165 |
| 830 | 0 | |a IMF working paper ; |v WP/02/44. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2002/044/001.2002.issue-044-en.xml |y INTERNATIONAL MONETARY FUND |
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| 928 | |t Library of Congress classification |a HG3881.5.I58W67 no.02/44 |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2002/044/001.2002.issue-044-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12141864 | ||