Strategic monetary policy in a monetary union with non-atomistic wage setters

Figure 5: Labor demand elasticity and CWS when the adverse competition effect prevails
and /ʌ//// = Mu = θ∙

Figure 6: Labor demand elasticity and CWS when the adverse competition effect prevails
under NMP regime but not in a MU with μ∣∣∣∣ = μu = θ∙

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