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Lipp, E. Zur Bedeutung institutioneller Bedingungen für die Stabilitätspolitik — dargestellt am Beispiel Großbritannien. Journal of Contextual Economics – Schmollers Jahrbuch, 98(3), 347-373.
Lipp, Ernst-Moritz "Zur Bedeutung institutioneller Bedingungen für die Stabilitätspolitik — dargestellt am Beispiel Großbritannien" Journal of Contextual Economics – Schmollers Jahrbuch 98.3, 1978, 347-373.
Lipp, Ernst-Moritz (1978): Zur Bedeutung institutioneller Bedingungen für die Stabilitätspolitik — dargestellt am Beispiel Großbritannien, in: Journal of Contextual Economics – Schmollers Jahrbuch, vol. 98, iss. 3, 347-373, [online]


Zur Bedeutung institutioneller Bedingungen für die Stabilitätspolitik — dargestellt am Beispiel Großbritannien

Lipp, Ernst-Moritz

Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 98 (1978), Iss. 3 : pp. 347–373

1 Citations (CrossRef)

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Lipp, Ernst-Moritz

Cited By

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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.