Monopoly unions and the liberalisation of international trade

Article Abstract:

A study was conducted to evaluate a two-country model of international trade. The model assumes that both countries produce a homogenous product. In addition, decentralised national unions, centralised national unions and international unions are considered. Results show that union behavior influences the relationship between product wages and corporatism levels. Results also indicate the effects of tariff and trade barriers on consumption price elasticity.

International trade, Monopolies, Labor unions

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Learning and inflation convergence in the ERM

Article Abstract:

A study was conducted to evaluate the impact of learning on inflation and exchange rate variations. The study assumes that goods are imperfectly substituted and focuses on a realignment of real exchange rates. Results show that realignments which restores competitiveness and reduces risk may minimize the impact of inflation. In addition, learning may create a delayed response reaction for domestic inflation against exchange rates.

Europe, Economic aspects, Prices and rates, Foreign exchange, Foreign exchange rates, Learning, Foreign exchange market

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Hyperinflation and the stabilisation: Cagan revisited

Article Abstract:

The expected stabilization through money creation can lead to a budget deficit higher than the maximum inflation tax and very high and fluctuating inflation rates. The establishment of a deficit cap, however, reduces inflation expectations and results in higher real balances and increased yield in inflation tax for any given inflation rate.

Prices, Economic research

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