Möglichkeiten für Vollbeschäftigungspolitik im Rahmen des Europäischen Makroökonomischen Dialogs

A decade after its introduction the European Monetary Union is no more undisputed. While a successful record regarding price stability cannot be doubted, the EMU still suffers from high unemployment – not only related to the Financial Crisis. In this contribution we want to cast light on the question how this might be related to a dismal mix of wage policy and monetary policy. Taking a consideration of the European Macroeconomic Dialogue as a starting point, we develop a game theoretic model which can explain different macroeconomic alternatives. As a result we present a reputation equilibrium which would make full employment and price stability compatible and does not rest on overriding the actors’ independence.

20. December 2010

Authors Toralf Pusch A. Heise

Whom to contact

For Researchers

For Journalists

Mitglied der Leibniz-Gemeinschaft LogoTotal-Equality-LogoSupported by the BMWK