Indexation, national consent, and collective bargaining agreements
Indexation of financial liabilities was introduced in Iceland in face of an almost total collapse of the islands monetary system. The demise of the financial system was caused by long lasting and high episode of price inflation in the late 1960’s and the 1970’s. The article traces some of the negati...
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Online Access: | https://doi.org/10.13177/irpa.a.2013.9.2.12 https://doaj.org/article/4fecf0d5ac6945a8bc4a6a56bdc0995a |
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ftdoajarticles:oai:doaj.org/article:4fecf0d5ac6945a8bc4a6a56bdc0995a 2023-05-15T16:49:26+02:00 Indexation, national consent, and collective bargaining agreements Þórólfur Matthíasson 2013-12-01T00:00:00Z https://doi.org/10.13177/irpa.a.2013.9.2.12 https://doaj.org/article/4fecf0d5ac6945a8bc4a6a56bdc0995a EN IS eng ice University of Iceland http://www.irpa.is/article/view/1219 https://doaj.org/toc/1670-6803 https://doaj.org/toc/1670-679X 1670-6803 1670-679X doi:10.13177/irpa.a.2013.9.2.12 https://doaj.org/article/4fecf0d5ac6945a8bc4a6a56bdc0995a Stjórnmál og Stjórnsýsla, Vol 9, Iss 2, Pp 489-508 (2013) Verðtrygging fjárhagsskuldbindinga kjarasamningar leikjafræðileg nálgun Political institutions and public administration (General) JF20-2112 Political science (General) JA1-92 article 2013 ftdoajarticles https://doi.org/10.13177/irpa.a.2013.9.2.12 2022-12-31T12:15:51Z Indexation of financial liabilities was introduced in Iceland in face of an almost total collapse of the islands monetary system. The demise of the financial system was caused by long lasting and high episode of price inflation in the late 1960’s and the 1970’s. The article traces some of the negative consequences of inflation for the economy. The paper also presents a theoretical setting where a simple game-theoritical model is used to explain how the invention of indexation of financial liabilities changed the landscape of collective bargaining. Before the invention of indexation the actors in the bargaining game were more likely to gain from inflation compared to a situation with stable prices. Indexation changed that slowly but steadily. Indexation has thus been an stabilizing institution in Icelandic economic live. Article in Journal/Newspaper Iceland Directory of Open Access Journals: DOAJ Articles Veftímaritið Stjórnmál og stjórnsýsla 9 2 489 |
institution |
Open Polar |
collection |
Directory of Open Access Journals: DOAJ Articles |
op_collection_id |
ftdoajarticles |
language |
English Icelandic |
topic |
Verðtrygging fjárhagsskuldbindinga kjarasamningar leikjafræðileg nálgun Political institutions and public administration (General) JF20-2112 Political science (General) JA1-92 |
spellingShingle |
Verðtrygging fjárhagsskuldbindinga kjarasamningar leikjafræðileg nálgun Political institutions and public administration (General) JF20-2112 Political science (General) JA1-92 Þórólfur Matthíasson Indexation, national consent, and collective bargaining agreements |
topic_facet |
Verðtrygging fjárhagsskuldbindinga kjarasamningar leikjafræðileg nálgun Political institutions and public administration (General) JF20-2112 Political science (General) JA1-92 |
description |
Indexation of financial liabilities was introduced in Iceland in face of an almost total collapse of the islands monetary system. The demise of the financial system was caused by long lasting and high episode of price inflation in the late 1960’s and the 1970’s. The article traces some of the negative consequences of inflation for the economy. The paper also presents a theoretical setting where a simple game-theoritical model is used to explain how the invention of indexation of financial liabilities changed the landscape of collective bargaining. Before the invention of indexation the actors in the bargaining game were more likely to gain from inflation compared to a situation with stable prices. Indexation changed that slowly but steadily. Indexation has thus been an stabilizing institution in Icelandic economic live. |
format |
Article in Journal/Newspaper |
author |
Þórólfur Matthíasson |
author_facet |
Þórólfur Matthíasson |
author_sort |
Þórólfur Matthíasson |
title |
Indexation, national consent, and collective bargaining agreements |
title_short |
Indexation, national consent, and collective bargaining agreements |
title_full |
Indexation, national consent, and collective bargaining agreements |
title_fullStr |
Indexation, national consent, and collective bargaining agreements |
title_full_unstemmed |
Indexation, national consent, and collective bargaining agreements |
title_sort |
indexation, national consent, and collective bargaining agreements |
publisher |
University of Iceland |
publishDate |
2013 |
url |
https://doi.org/10.13177/irpa.a.2013.9.2.12 https://doaj.org/article/4fecf0d5ac6945a8bc4a6a56bdc0995a |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
Stjórnmál og Stjórnsýsla, Vol 9, Iss 2, Pp 489-508 (2013) |
op_relation |
http://www.irpa.is/article/view/1219 https://doaj.org/toc/1670-6803 https://doaj.org/toc/1670-679X 1670-6803 1670-679X doi:10.13177/irpa.a.2013.9.2.12 https://doaj.org/article/4fecf0d5ac6945a8bc4a6a56bdc0995a |
op_doi |
https://doi.org/10.13177/irpa.a.2013.9.2.12 |
container_title |
Veftímaritið Stjórnmál og stjórnsýsla |
container_volume |
9 |
container_issue |
2 |
container_start_page |
489 |
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1766039581286727680 |