Zur Bedeutung institutioneller Bedingungen für die Stabilitätspolitik — dargestellt am Beispiel Großbritannien
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Zur Bedeutung institutioneller Bedingungen für die Stabilitätspolitik — dargestellt am Beispiel Großbritannien
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 98 (1978), Iss. 3 : pp. 347–373
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Lipp, Ernst-Moritz
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Gerechtigkeit, Diskurs oder Markt?
Gewerkschaften als Korporative Akteure: Gruppeninteressen und Differentielle Betroffenheit
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1986
https://doi.org/10.1007/978-3-322-94348-4_10 [Citations: 0]
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Abstract
Usually economic policy analysis tries to explain inflation - unemployment situations as a result of the behaviour of monetary and fiscal authorities or collective bargaining decision-makers which is adverse to economic stability. On the other hand few contributions try to answer the question why at all behaviour is like that. A case study for Great Britain reveals that institutional conditions as a framework for action of decision-makers play an important role. With the current organization of the collective bargaining procedures and the incentive structure involved the orientation towards productivity or the overall economic situation cannot be likely. Wage level developments causing unemployment provoke for reasons of political survival expansive fiscal action. Monetary authorities however are submitted to changing fiscal policy action by a subtle network of regulations giving the public sector borrowing requirement a direct impact on the money supply. Reorganisation of such. institutional structures requires a high degree of political consent which for different reasons can hardly be matched.