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- Title
Employment Policies and Centralized Wage-setting.
- Authors
Calmfors, Lars; Horn, Henrik
- Abstract
The combination of stagflation and rapid expansion of the public sector has been characterstic for the smaller European economics with centralized wage-setting. One interpretation is that active employment policies have contributed to excessive real-wage increases. The paper sets up a model of centralized wage-setting that is used to examine this hypothesis under different assumptions about (1) government employment goals, (2) trade union perceptions, and (3) the ways in which government expenditures are financed. It is shown that employment policies may actually reduce employment at the same time as they cause a structural transformation of the economy.
- Subjects
EFFECT of inflation on unemployment; PUBLIC sector; WAGES; EMPLOYMENT policy (Economic theory); EMPLOYMENT; ECONOMICS
- Publication
Economica, 1986, Vol 53, Issue 211, p281
- ISSN
0013-0427
- Publication type
Article
- DOI
10.2307/2554135