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Erfordert die Europäische Währungsunion die Koordination der aktiven Arbeitsmarktpolitik in den Mitgliedsländern? / Does the EMU necessitate the Co-ordination of Active Labour Market Policy in the Member Countries?

Author

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  • Jochem Axel

    () (Universität der Bundeswehr München, Institut für Volkswirtschaftslehre, Werner- Heisenberg-Weg 39, D-85577 Neubiberg.)

Abstract

The Treaty of Amsterdam has enlarged the acquis communautaire of the European Union by a chapter concerning the common employment strategy. It focuses on the co-ordination of active measures. In this paper it is examined, whether active labour market policy may cause problems, which only occur in a monetary union and necessitate the co-operation of the member states on the European level. Indeed, the so-called stability pact impedes new debts and the lack of nominal exchange rates as an instrument of adjustment intensifies intra-Union tax competition. The resulting sub-optimal level of active labour market policy can be raised by financial co-operation. On the other hand, a centralised employment strategy is the consequence of political efforts to involve the European Central Bank (ECB). If the ECB resists the political pressure and concentrates on internal price stability, fiscal co-ordination will lead to an excessive use of active labour market policy and affect European competitiveness on the world markets. Eventually, social costs will be higher than in the non-co-operative equilibrium.

Suggested Citation

  • Jochem Axel, 1999. "Erfordert die Europäische Währungsunion die Koordination der aktiven Arbeitsmarktpolitik in den Mitgliedsländern? / Does the EMU necessitate the Co-ordination of Active Labour Market Policy in the Mem," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 219(5-6), pages 673-684, October.
  • Handle: RePEc:jns:jbstat:v:219:y:1999:i:5-6:p:673-684
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    References listed on IDEAS

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    1. Brunner, Johann K., 1996. "Transition from a pay-as-you-go to a fully funded pension system: The case of differing individuals and intragenerational fairness," Journal of Public Economics, Elsevier, pages 131-146.
    2. Homburg, Stefan, 1990. "The Efficiency of Unfunded Pension Schemes," EconStor Open Access Articles, ZBW - German National Library of Economics, pages 640-647.
    3. Sandmo, Agnar, 1987. "A Reinterpretation of Elasticity Formulae in Optimum Tax Theory," Economica, London School of Economics and Political Science, vol. 54(213), pages 89-96, February.
    4. Brunner, Johann K., 1996. "Transition from a pay-as-you-go to a fully funded pension system: The case of differing individuals and intragenerational fairness," Journal of Public Economics, Elsevier, pages 131-146.
    5. James J. Heckman & Thomas E. Macurdy, 1980. "A Life Cycle Model of Female Labour Supply," Review of Economic Studies, Oxford University Press, vol. 47(1), pages 47-74.
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