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The Labour Productivity-An Important Criterion Of Real Convergence In The Process Of Adopting The Euro Currency. A Case Study On Romania'S Labour Market

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  • RATIU (Scutelnicu) Mina Raluca

    (Babes-Bolyai University, Cluj-Napoca, Romania)

Abstract

In the context of a new deadline for the euro adoption, 2024, the purpose of this paper is to highlight how important is the labour productivity as a criterion of real convergence. Unlike the well-defined nominal convergence criteria, there are some indicators such as GDP/capita, the productivity and the cost of labour, the openness of the economy that best define how close to the rest of the states of the European Union and the Euro-zone is the economy of a country in terms of the standard of living, the competitiveness and the efficiency of the economy as a whole.

Suggested Citation

  • RATIU (Scutelnicu) Mina Raluca, 2019. "The Labour Productivity-An Important Criterion Of Real Convergence In The Process Of Adopting The Euro Currency. A Case Study On Romania'S Labour Market," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 71(3), pages 91-103, November.
    • Handle: RePEc:blg:reveco:v:71:y:2019:i:3:p:91-103
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    More about this item

    Keywords

    Euro-zone; nominal and real convergence criteria; the labour productivity; euro currency;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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