| 1. |
- Gylfason, Thorvaldur, et al.
(författare)
-
Comepting Wage Claims, Cost Inflation, and Capacity Utilization
- 1982
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- This paper develops a theory of competing wage claims and cost inflation, and attempts to integrate this theory into the core of modern macroeconomic analysis. Specifically, the paper proposes an explanation for wage rigidity and wage interdependence based on an application of duopoly theory to labor union behavior into a macroeconomic general equilibrium model with goods, money, and bonds as well as two kinds of labor. Special emphasis is placed on the interplay between demand and cost factors in the inflation process and on the implications of wage competition among labor unions for the relationship between inflation and unemployment in the short and long run.
|
|
| 2. |
- Gylfason, Thorvaldur, et al.
(författare)
-
The Macroeconomic Consequences of Endogenous Governments and Labor Unions
- 1982
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- The purpose of this paper is to explore the relationship between government spending, wages, employment, and prices under different assumptions about the behavior patterns of governments and labor unions. For this purpose, we analyze the interaction between utility-maximizing labor unions and welfare- (or vote-) maximizing government from a game-theoretic point of view within a fairly general macroeconomic framework. Within this framework, both labor unions and the government are assumed to maximize objective functions subject to constraints imposed by the macroeconomic environment. Rational behavior requires each to react to changes in the behavior of the other. The aim of studying the process by which unions react and counterreact to government behavior and vice versa is to attempt to shed new light on the apaprently persistent inflationary bias of the economies of the industrial countries, the gradual increase in the size of the public sector of these countries over the years, and the role that changes in the preferences and the "world view" of governments, as well as in the political and economic strength of labor unions, have played in these developments.
|
|
| 3. |
- Gylfason, Thorvaldur, et al.
(författare)
-
Wage Rigidity and Wage Rivalry : An Oligopolistic Approach
- 1982
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- The aim of this paper is to present a theory of wages based on an application of oligopoly theory to labor unions, and to use this theory to explain why nominal wage rigidity in the short run does not necessarily imply money illusion or other forms of irrational behavior. Specifically, the paper shows formally that if workers are concerned about relative wages, rational behavior does not require them to demand full compensation for all price increases unless they expect all other workers to be fully compensated.
|
|
| 4. |
- Lindbeck, Assar, et al.
(författare)
-
Intergenerational Aspects of Public Transfers, Borrowing and Debt
- 1984
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- The paper analyzes intergeneration distributional effects of taxes, transfer payments, public borrowing and debt. A two-period life-cucle model with overlapping generations is constructed. The model has two specific features: private wealth in both periods enter as arguments in the preference function, and the individuals (inelastically) supply labor in both periods. It turns out that some fiscal policy actions favor both of the currently lliving generations, possibly at the expense of future generations, while other actions generate conflicts between the currently living generations. The analysis also shows that it makes considerable difference whether the "burden" of public spending, debt and borrowing is defined in terms of wealth, consumption and utility. The different implications of foreign vs. domestic debt are examined.
|
|
| 5. |
|
|
| 6. |
- Lindbeck, Assar
(författare)
-
Redistribution Policy and the Expansion of the Public Sector : The Political Economy of the Welfare State
- 1984
-
Rapport (övrigt vetenskapligt/konstnärligt)abstract
- During the first part of this century life-cycle and insurance-type considerations seem to have dominated redistribution policy, in particular when we look at the consequences for the expansion of public spending. By contrast, during recent decades, "fragmented horizontal redistributions" between various minority groups have probably been the most important mechanism. The self-interest of different groups of the electorate seems to have provided the most powerful motive behind these various policies, though welfare altruism and what in this paper is called considerations of "consequential externalities" have probably been important motives behind redistribution in favor of the poor.
|
|
| 7. |
|
|
