When Eastern Labour Markets Enter Western Europe CEECs. Labour Market Institutions upon Euro Zone Accession
AbstractThis paper reviews the literature on the labour market institutions in European Union Member States in the context of monetary integration. Traditionally, labour markets are a key concept in the optimal currency area theory, playing the role of the only accommodation mechanism of asymmetric shocks after the monetary unification. There are several theoretical frameworks linking the institutional design of the labour market to the potential effectiveness of monetary policy in the context of currency areas. Many empirical studies addressed these issues too, yielding important policy implications for labour market reforms in the process of monetary unification. However, there seem to be "white spots" in this patchwork, which may actually be particularly useful from the perspective of CEECs upon the accession to the euro zone. We suggest these research directions encompassing labour supply and theoretical frameworks of labour market flexibility benchmarking in the context of monetary integration.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 15045.
Date of creation: 2009
Date of revision:
labour market institutions; monetary integration; labour market reform; CEECs; EMU;
Other versions of this item:
- Joanna Tyrowicz, 2009. "When Eastern Labour Markets Enter Western Europe. CEECs Labour Market Institutions upon Euro Zone Accession," National Bank of Poland Working Papers 61, National Bank of Poland, Economic Institute.
- Joanna Tyrowicz, 2009. "When Eastern Labour Markets Enter Western Europe CEECs. Labour Market Institutions upon Euro Zone Accession," Working Papers 2009-03, Faculty of Economic Sciences, University of Warsaw.
- F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
- F15 - International Economics - - Trade - - - Economic Integration
- D02 - Microeconomics - - General - - - Institutions: Design, Formation, and Operations
- J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-05-09 (All new papers)
- NEP-EEC-2009-05-09 (European Economics)
- NEP-LAB-2009-05-09 (Labour Economics)
- NEP-MAC-2009-05-09 (Macroeconomics)
- NEP-TRA-2009-05-09 (Transition Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Agell, J. & Lundborg, P., 1992. "Theories of Pay and Unemployment: Survey Evidence from Swedish Manufacturing Firms," Papers 1993-8, Uppsala - Working Paper Series.
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