Autori
Acocella, Nicola
Di Bartolomeo, Giovanni

Titolo
The cost of social pacts
Periodico
Università degli Studi di Roma "La Sapienza" - Dipartimento di Studi Geoeconomici, Linguistici, Statistici e Storici per l'Analisi regionale. Working papers
Anno: 2009 - Fascicolo: 57 - Pagina iniziale: 1 - Pagina finale: 14

Social pacts, while improving the macroeconomic performance, usually inflict costs to unions. To facilitate their stipulation various substitutes can operate such as payment of transfers to unions, central bank conservativeness, inflation aversion or political partisanship by the unions. We present a model encompassing the operation of these different mechanisms and hint at cases were these actually operated in the European experience.



Testo completo: http://geostasto.eco.uniroma1.it/utenti/acocella/english/106%20WPaper_%20No_57.pdf

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