Baas, Timo; Belke, Ansgar - Institute for the Study of Labor (IZA) - 2014
Member countries of the European Monetary Union (EMU) initiated wide-ranging labor market reforms in the last decade … way to restore competitiveness within a currency union. This fosters fears among observers about a beggar …-thy-neighbor policy that leaves non-reforming countries with a loss in competitiveness and an increase in foreign debt. Using a two …