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Degré de flexibilité des marchés du travail, ajustement à des chocs asymétriques et union monétaire européenne

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  • Hélène Erkel-Rousse

Abstract

[eng] Labour Market Flexibility, Adjustment to Asymmetric Shocks and European Monetary Union by Hélène Erkel-Rousse In 1961, Mundell posited that regions would have no major problems adjusting to monetary union provided that the shocks they sustained were not very asymmetric and their labour markets were sufficiently flexible. The European Union does not appear to perfectly satisfy these two conditions and the member countries could consequently have problems adjusting to monetary union. However, Mundell's claim should not be taken at face value. First of all, labour market flexibility is just one adjustment element among others. Secondly, the importance accorded to the extent of shock asymmetry is moderated by the fact that the manipulation of exchange rates is not as easy and beneficial as Mundell suggests. [fre] Degré de flexibilité des marchés du travail, ajustement à des chocs asymétriques et union monétaire européenne par Hélène Erkel-Rousse Selon Mundell (1961), l'ajustement de régions en union monétaire ne pose pas de problème majeur si les chocs qu'elles subissent sont faiblement asymétriques et que leurs marchés du travail sont suffisamment flexibles. Ces deux conditions ne paraissant pas idéalement remplies par l'Union européenne, on pourrait craindre que les États membres rencontrent des difficultés d'ajustement en union monétaire. Cependant, le message de Mundell doit être atténué. D'une part, la flexibilité des marchés du travail n'est qu'un élément d'ajustement parmi d'autres. Quant à l'importance conférée au degré d'asymétrie des chocs, elle est nuancée par le fait que la manipulation des changes n'est pas aussi aisée et bénéfique que le suggère Mundell.

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  • Hélène Erkel-Rousse, 1997. "Degré de flexibilité des marchés du travail, ajustement à des chocs asymétriques et union monétaire européenne," Économie et Prévision, Programme National Persée, vol. 128(2), pages 79-100.
  • Handle: RePEc:prs:ecoprv:ecop_0249-4744_1997_num_128_2_5850 Note: DOI:10.3406/ecop.1997.5850
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    References listed on IDEAS

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    Cited by:

    1. Hélène Erkel-Rousse & Jacques Mélitz, 1997. "Une nouvelle évaluation empirique des coûts de l'Union monétaire européenne," Économie et Prévision, Programme National Persée, vol. 128(2), pages 21-39.
    2. Jérôme Creel, 2001. "Faut-il contraindre la politique budgétaire en Union monétaire ?. Les enseignements d'une maquette simulée," Revue de l'OFCE, Presses de Sciences-Po, vol. 77(2), pages 199-249.
    3. Marc-Alexandre Sénégas, 2010. "La théorie des zones monétaires optimales au regard de l'euro : Quels enseignements après dix années d'union économique et monétaire en Europe ?," Revue d'économie politique, Dalloz, vol. 120(2), pages 379-419.
    4. Bouzahzah, Mohamed & Saber, Brahim, 2012. "Coût de mobilité endogène et flexibilité du marché du travail
      [Endogenous Cost of mobility and labor market flexibility]
      ," MPRA Paper 38982, University Library of Munich, Germany, revised 07 Jun 2012.
    5. David Khoudour-Casteras, 2005. "Migrations internationales, régimes de change et politiques sociales : un nouveau trilemme de politique économique ?," Sciences Po publications info:hdl:2441/f4rshpf3v1u, Sciences Po.
    6. Cécile Couharde & Cyriac Guillaumin, 2011. "Chocs externes et perspective d'union monétaire en Asie de l'Est : les enseignements d'un modèle VAR structurel," Post-Print halshs-00632373, HAL.

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