Policy rule evaluation by contract-markets: 100 years of wage contract lenght in Sweden/
The length of collective wage agreements in Sweden between 1908 and 2005 is explored to evaluate a variety of policy regimes from the wage contract-makers' perspective. Adopting a new long-run test, it is found that wage contract length decreases in response to an increase in "macroeconomi...
| Κύριος συγγραφέας: | Fregert, Klas. |
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| Corporate συγγραφέας: | European Commission : Directorate-General for Economic and Financial Affairs. |
| Άλλοι συγγραφείς: | Jonung, Lars. |
| Μορφή: | Βιβλίο |
| Γλώσσα: | Greek English |
| Στοιχεία έκδοσης: |
Bruxelles- Luxembourg:
European Comission: Directorate-General for Economic and Financial Affairs,
2006.
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| Σειρά: |
European Economy. Economic papers ;
270. |
| Διαθέσιμο Online: |
http://ec.europa.eu/economy_finance/publications/publication_summary798_en.htm |
| Ετικέτες: |
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| Περίληψη: |
The length of collective wage agreements in Sweden between 1908 and 2005 is explored to evaluate a variety of policy regimes from the wage contract-makers' perspective. Adopting a new long-run test, it is found that wage contract length decreases in response to an increase in "macroeconomic uncertainty" across policy regimes. There is also substantial short-run variation in contract length, which cautions against regime divisions based solely on the policy rule. The inflation targeting regime 1995-2005 stands out as an exceptionally stable policy regime as judged by the willingness of contract-makers to repeatedly commit to three-year non-indexed wage agreements. The results are based on a data base on collective wage agreements unique in international comparisons in terms of length and coverage. |
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| Φυσική περιγραφή: |
32 σ.: πιν. 30 εκ. |
| ISSN: |
1016-8060 (print) 1725-3187 (online) |
| Σχετικά τεκμήρια: |
Economic Papers |