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Lecture Notes in Economics and Mathematical Systems

Essays on Wage Bargaining in Dynamic Macroeconomics

Authors: Claas, Oliver

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  • Embeds three variants of collective bargaining into a unified monetary macroeconomic framework
  • Provides full characterization of temporary equilibria under bargaining
  • Analyzes perfect-foresight dynamics in both nominal and real terms
  • Shows conditions for stability regarding a balanced monetary expansion
  • Uses analytical and numerical techniques         

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eBook 53,49 €
price for Spain (gross)
  • ISBN 978-3-319-97828-4
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  • Included format: PDF, EPUB
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  • Immediate eBook download after purchase
Softcover 67,59 €
price for Spain (gross)
  • ISBN 978-3-319-97827-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
About this book

This book addresses collective bargaining in an intertemporal monetary macroeconomy of the aggregate supply–aggregate demand (AS–AD) type with overlapping generations of consumers and with a public sector. The results are presented in a unified framework with a commodity market that clears competitively. By analyzing the implications of three variants of collective bargaining – efficient bargaining in a uniform and a segmented labor market and “right-to-manage” wage bargaining – it identifies the quantity of money, price expectations, union power, and union size as the determinants of temporary equilibria. In the three scenarios, it characterizes and compares the temporary equilibria using both analytical and numerical techniques, with an emphasis on allocations, welfare, and efficiency. It also discusses the dynamic evolution under rational expectations and its steady states in nominal and real terms. Lastly, it demonstrates conditions for stability regarding a balanced monetary expansion of the economy.

About the authors

Oliver Claas is a researcher at Bielefeld University’s Center for Mathematical Economics (IMW). He holds a Ph.D. in Economic Theory from Bielefeld University, a Master of Science in Economics from Purdue University, and a Diplom (Master's equiv.) in Mathematical Economics from Bielefeld University. His research interests include macroeconomics, labor economics, and the theory of dynamical systems, using both analytical and numerical methods.

Table of contents (4 chapters)

Table of contents (4 chapters)

Buy this book

eBook 53,49 €
price for Spain (gross)
  • ISBN 978-3-319-97828-4
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover 67,59 €
price for Spain (gross)
  • ISBN 978-3-319-97827-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
Essays on Wage Bargaining in Dynamic Macroeconomics
Authors
Series Title
Lecture Notes in Economics and Mathematical Systems
Series Volume
689
Copyright
2019
Publisher
Springer International Publishing
Copyright Holder
Springer Nature Switzerland AG
eBook ISBN
978-3-319-97828-4
DOI
10.1007/978-3-319-97828-4
Softcover ISBN
978-3-319-97827-7
Series ISSN
0075-8442
Edition Number
1
Number of Pages
VIII, 153
Number of Illustrations
22 b/w illustrations, 21 illustrations in colour
Topics