Journal Article

Die EWU - Beschäftigungsmotor oder Beschäftigungsrisiko?

Zeitschrift für Wirtschaftspolitik, 47(1): 109-120

The current paper deals with the labour market effects of European Monetary  Union (EMU). We compare the EU-memberstates' susceptibility to asymmetric shocks and their labour market flexibility under status quo conditions. The fin- dings are related to the question which countries are - from a labour market point of view - fit for EMU and which countries should not join EMU from the start.  We then consider different policy scenarios and develop an institutional framework suitable to make EMU a labour market success. Special emphasis is given to the optimal interplay between the relevant agents, i.e. the EU-Commission, national governments, employers and trade unions.   

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E24, E48, J30