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• W3121347904 abstract "This paper extends the closed-economy analysis of strategic interaction between labor unions and the monetary authority in Lippi (2003) to a two-country, open-economy framework. It sheds light on the real effect of foreign central bank conservatism, which—through a strategic mechanism that operates via the terms of trade between the two independent monetary policymakers—entails wage moderation. The impact of domestic central bank conservatism hinges instead on the combination of three strategic effects." @default.
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• W3121347904 date "2011-11-28" @default.
• W3121347904 modified "2023-10-14" @default.
• W3121347904 title "The Welfare Effect of Foreign Monetary Conservatism with Nonatomistic Wage Setters" @default.
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• W3121347904 doi "https://doi.org/10.1111/j.1538-4616.2011.00465.x" @default.
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