The cost of social pacts

Acocella, Nicola and Di Bartolomeo, Giovanni and Tirelli, Patrizio (2009) The cost of social pacts. Working Paper. Dipartimento di Studi Geoeconomici, Linguistici, Statistici e Storici per l'Analisi regionale, Roma. (Unpublished)


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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.

Item Type: Monograph (Working Paper)
Additional Information: E00, E58, E61, J50, J51
Uncontrolled Keywords: Social pacts, side payments, conservativeness, partisanship, unions.
Subjects: 300 Scienze sociali > 330 Economia
Depositing User: Prof. Nicola Acocella
Date Deposited: 16 Jul 2009
Last Modified: 20 May 2010 12:02

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