Contested Economic Institutions: The Politics of Macroeconomics and Wage Bargaining in Advanced Democracies (Cambridge Studies in Comparative Politics) [Paperback]

Torben Iversen (Author)

Book Description

ISBN-10: 0521645328 | ISBN-13: 978-0521645324 | Publication Date: August 28, 1999

This book helps explain one of the most intriguing and politically salient puzzles in comparative political economy: why some countries have much higher unemployment rates than others. Contrary to new classical economics the focus is on explaining distribution and equilibrium unemployment, and contrary to neo-corporatist theory the role of monetary policy and rational expectation is integral to the analysis. The book makes two central arguments. The first is that monetary policies affect equilibrium employment whenever wages are set above the firm level. The second argument focuses on the distributive effects of different institutions, and models institutional design as a strategic game between partisan governments and cross-class alliances of unions and employers.

Editorial Reviews

Review

"...provocative, interesting, and well written." Review of Radical Political Economics

"Explores how macroecenomic policies and economic institutions jointly determine economic performance and distribution." Journal of Economic Literature

Book Description

This book helps explain one of the most intriguing and politically salient puzzles in comparative political economy: why some countries have much higher unemployment rates than others. Contrary to new classical economics the focus is on explaining distribution and equilibrium unemployment, and contrary to neo-corporatist theory the role of monetary policy and rational expectation is integral to the analysis. The book makes two central arguments. The first is that monetary policies affect equilibrium employment whenever wages are set above the firm level. The second argument focuses on the distributive effects of different institutions, and models institutional design as a strategic game between partisan governments and cross-class alliance of unions and employers.

Product Details

• Paperback: 238 pages
• Publisher: Cambridge University Press (August 28, 1999)
• Language: English
• ISBN-10: 0521645328
• ISBN-13: 978-0521645324
• Product Dimensions: 9 x 6 x 0.6 inches
• Shipping Weight: 11.7 ounces (View shipping rates and policies)
• Amazon Best Sellers Rank: #1,026,638 in Books (See Top 100 in Books)

More About the Author

My work explores the intersection of politics and economics with a focus on the relationship between distributive conflict and economic performance. Examples of topics include the distribution of household labor, the sources of international competitiveness, the rise and transformation of the welfare state, wage bargaining and inequality, macroeconomic policy and unemployment, and the historical origins of democracy. You can learn more by visiting my website at www.people.fas.harvard.edu/~iversen, which contains downloadable papers, data, and more.