On the Role of Labour Market Reform for the Enlargement of a Monetary Union

The paper studies the incentives to join a monetary union, and the incentives to reform within a monetary union and within the candidate countries, respectively. It presents some "orders of magnitude" evidence on the size and balance of the incentive effects for joining and being a member, and on the desirability of reform in and out of the existing EMU in Europe. It is found that countries will only want to join a monetary union where there has been sufficient labour market reform, and where labour markets are more flexible than their own. But existing members will want the same properties of their new partners as well.

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Alternative title:	Die Rolle der Arbeitsmarktreform für die Erweiterung der Währungsunion
Year of publication:	2003-12-01
Authors:	Hallett, Andrew Hughes ; Hougaard Jensen, Svend E.
Published in:	CESifo Economic Studies; 49, 3/2003,
Publisher:	Ifo-Institut für Wirtschaftsforschung <München>
Subject:	Arbeitsmarktpolitik \| labor market policy \| EU-Erweiterung \| EU expansion \| Währungsunion \| monetary union

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Extent:	84992 bytes 25 p. application/pdf
Type of publication:	Book / Working Paper
Language:	English
Classification:	European Community financial management ; Currency. Monetary policy ; Individual Reports, Studies ; Europe. General Resources
Source:	ArchiDok