Resource title

Uncertainty, Wage Setting and Decision Making in a Monetary Union

Resource image

image for OpenScout resource :: Uncertainty, Wage Setting and Decision Making in a Monetary Union

Resource description

The enlargement of the European Monetary Union is likely to lead to an increase of uncertainty about the transmission of monetary policy for the larger union. Adding new members to the central bank council will in addition imply that the preferences of the enlarged council will be uncertain in the initial period. The paper considers the influence of both types of uncertainty on wage setting behavior in the larger monetary union and its effects on unemployment. In light of these effects, implications for the adequate structure of the central bank are derived.

Resource author

Carsten Hefeker

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/19244

Resource license

Adapt according to the presented license agreement and reference the original author.