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The European Economic and Monetary Union and Labour Market Reform

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Author Info

  • Elżbieta Bednarek-Sekunda

    (Ministry of Finance, Warsaw, Poland, elzbieta.bednarek@gmail.com)

  • Richard Jong-A-Pin

    (University of Groningen, The Netherlands, r.m.jong.a.pin@rug.nl)

  • Jakob de Haan

    (University of Groningen, The Netherlands, jakob.de.haan@rug.nl)

Abstract

We examine whether the EMU has led to greater labour market flexibility, differentiating between reform that enhances the capacity of an economy to adjust to economic shocks and reform that aims to increase long-run output. Based on a panel model and using OECD data on labour market reforms for 27 OECD countries over the period 1994—2004, we find that the two types of labour market reform are driven by different variables. Most importantly, our results suggest that the EMU has had no effect on reform that enhances the economy’s capacity to adjust to shocks. Most of our evidence for reform that increases long-run output suggests that the EMU has not affected this type of reform either.

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Bibliographic Info

Article provided by in its journal European Union Politics.

Volume (Year): 11 (2010)
Issue (Month): 1 (March)
Pages: 3-27

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Handle: RePEc:sae:eeupol:v:11:y:2010:i:1:p:3-27

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Keywords: EMU; labour market reform;

References

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  1. Eijffinger, Sylvester & Haan, Jakob de, 2000. "European Monetary and Fiscal Policy," OUP Catalogue, Oxford University Press, number 9780198776161, September.
  2. Potrafke, Niklas, 2010. "The growth of public health expenditures in OECD countries: Do government ideology and electoral motives matter?," Munich Reprints in Economics 19280, University of Munich, Department of Economics.
  3. Axel Dreher, 2005. "Does Globalization Affect Growth? Evidence from a new Index of Globalization," TWI Research Paper Series 6, Thurgauer Wirtschaftsinstitut, Universität Konstanz.
  4. Calmfors, Lars, 2001. "Unemployment, Labor Market Reform, and Monetary Union," Journal of Labor Economics, University of Chicago Press, vol. 19(2), pages 265-89, April.
  5. Hans Pitlik, 2007. "The Impact of Growth Performance and Political Regime Type on Economic Policy Liberalization," WIFO Working Papers 300, WIFO.
  6. Barry Eichengreen & Charles Wyplosz, 1998. "The Stability Pact: more than a minor nuisance?," Economic Policy, CEPR & CES & MSH, vol. 13(26), pages 65-113, 04.
  7. Alberto Alesina & Silvia Ardagna & Vincenzo Galasso, 2008. "The Euro and Structural Reforms," Working Papers 344, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
  8. Duval, Romain, 2008. "Is there a role for macroeconomic policy in fostering structural reforms? Panel evidence from OECD countries over the past two decades," European Journal of Political Economy, Elsevier, vol. 24(2), pages 491-502, June.
  9. Jochen Mierau & Richard Jong-A-Pin & Jakob de Haan, 2007. "Do political variables affect fiscal policy adjustment decisions? New empirical evidence," Public Choice, Springer, vol. 133(3), pages 297-319, December.
  10. Heylen, Freddy & Everaert, Gerdie, 2000. " Success and Failure of Fiscal Consolidation in the OECD: A Multivariate Analysis," Public Choice, Springer, vol. 105(1-2), pages 103-24, October.
  11. Christian Bjørnskov & Niklas Potrafke, 2011. "Politics and privatization in Central and Eastern Europe," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 19(2), pages 201-230, 04.
  12. Sibert, Anne & Sutherland, Alan, 2000. "Monetary union and labor market reform," Journal of International Economics, Elsevier, vol. 51(2), pages 421-435, August.
  13. Nicola Brandt & Jean-Marc Burniaux & Romain Duval, 2005. "Assessing the OECD Jobs Strategy: Past Developments and Reforms," OECD Economics Department Working Papers 429, OECD Publishing.
  14. Jakob de Haan & Robert Inklaar & Richard Jong-A-Pin, 2008. "Will Business Cycles In The Euro Area Converge? A Critical Survey Of Empirical Research," Journal of Economic Surveys, Wiley Blackwell, vol. 22(2), pages 234-273, 04.
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Citations

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Cited by:
  1. Louis Jaeck & Sehjeong Kim, 2014. "The Impact of EMU Enlargement on Structural Reforms: A Political Economy Approach," International Advances in Economic Research, Springer, vol. 20(1), pages 73-86, February.
  2. Peter Wierts & Henk van Kerkhoff & Jakob de Haan, 2012. "Trade Dynamics in the Euro Area: The role of export destination and composition," DNB Working Papers 354, Netherlands Central Bank, Research Department.
  3. Heiner Mikosch & Jan-Egbert Sturm, 2011. "Has the EMU Reduced Wage Growth and Unemployment? Testing a Model of Trade Union Behaviour," CESifo Working Paper Series 3453, CESifo Group Munich.
  4. Yu-Fu Chen & Gylfi Zoega, 2011. "Floating Exchange Rates as Employment Protection," DEGIT Conference Papers c016_038, DEGIT, Dynamics, Economic Growth, and International Trade.

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