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Have Europe’s labour markets become more flexible? An exercise in measuring the relative flexibility of wages across countries and time

In: Economic Spillovers, Structural Reforms and Policy Coordination in the Euro Area

Author

Listed:
  • Andrew Hughes Hallett

    (George Mason University)

  • Christian Richter

    (Loughborough University)

  • Xiaoshan Chen

    (Loughborough University)

Abstract

Wage and price flexibility, and the structural and institutional reforms required to induce this kind of flexibility, have now become the leading economic issue in Europe. This is not a new development. It has long been argued that structural reforms were a necessary condition for a successful monetary union (Delors, 1989). Nor has this gone unrecognised within Europe itself. The Lisbon Agenda, agreed in 2000, was introduced precisely to create greater market flexibility.

Suggested Citation

  • Andrew Hughes Hallett & Christian Richter & Xiaoshan Chen, 2008. "Have Europe’s labour markets become more flexible? An exercise in measuring the relative flexibility of wages across countries and time," Contributions to Economics, in: Economic Spillovers, Structural Reforms and Policy Coordination in the Euro Area, chapter 7, pages 203-232, Springer.
    • Handle: RePEc:spr:conchp:978-3-7908-1970-0_7
    DOI: 10.1007/978-3-7908-1970-0_7
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    Cited by:

    1. Crowley, Patrick M. & Hallett, Andrew Hughes, 2018. "What causes business cycles to elongate, or recessions to intensify?," Journal of Macroeconomics, Elsevier, vol. 57(C), pages 338-349.
    2. Eichler, Stefan & Hielscher, Kai, 2012. "Does the ECB act as a lender of last resort during the subprime lending crisis?: Evidence from monetary policy reaction models," Journal of International Money and Finance, Elsevier, vol. 31(3), pages 552-568.

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