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National Labour Market Institutions and the European Economic and Monetary Integration Process

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  • FREDDY HEYLEN
  • ANDRÉ VAN POECK

Abstract

This article investigates the role of national labour market institutions for the chances of successful transition to Economic and Monetary Union (EMU) in Europe, as well as for its viability. The conclusions are rather pessimistic. Although overlooked by the Maastricht Treaty, the need for real convergence (convergence of unemployment rates) is emphasized as a major condition for success. However, current labour market institutions in the EU make it quite unlikely that this condition will be fulfilled. We show that the implementation of the Maastricht programme may instead turn into an obstacle to monetary unification.

Suggested Citation

  • Freddy Heylen & André Van Poeck, 1995. "National Labour Market Institutions and the European Economic and Monetary Integration Process," Journal of Common Market Studies, Wiley Blackwell, vol. 33(4), pages 573-595, December.
    • Handle: RePEc:bla:jcmkts:v:33:y:1995:i:4:p:573-595
    DOI: 10.1111/j.1468-5965.1995.tb00551.x
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    References listed on IDEAS

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    1. Layard, Richard & Nickell, Stephen & Jackman, Richard, 2005. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780199279173.
    2. Kenichi Kawasaki & Peter Hoeller & Pierre Poret, 1990. "Modelling Wages and Prices for the Smaller OECD Countries," OECD Economics Department Working Papers 86, OECD Publishing.
    3. Eichengreen, Barry, 1990. "One Money for Europe? Lessons from the US Currency Union," Department of Economics, Working Paper Series qt6ks1k831, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    4. Lars Calmfors, 1993. "Centralisation of Wage Bargaining and Macroeconomic Performance: A Survey," OECD Economics Department Working Papers 131, OECD Publishing.
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    Cited by:

    1. Everaert, Gerdie & Heylen, Freddy, 2004. "Public capital and long-term labour market performance in Belgium," Journal of Policy Modeling, Elsevier, vol. 26(1), pages 95-112, January.
    2. PLASMANS, Joseph & MEERSMAN, Hilde & VAN POECK, André & MERLEVEDE, Bruno, 1999. "Generosity of the unemployment benefit systern and wage flexibility in EMU: Time- varying evidence in five countries," Working Papers 1999043, University of Antwerp, Faculty of Business and Economics.
    3. Michael Mesch, 1999. "Vom Wettbewerbskorporatismus zur transnationalen Koordination der Lohnpolitik in der EU? (Teil 1)," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 25(4), pages 387-422.
    4. Peter Nijkamp & Shunii Wang, 1998. "Winners and loosers in the European Monetary Union: A neural network analysis of spatial industrial shifts," ERSA conference papers ersa98p377, European Regional Science Association.

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