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Unemployment, Labour-Market Reform and Monetary Union

Author

Listed:
  • Calmfors, L.

Abstract

The paper analyses various mechanism through which monetary union in Euroep may affect unemployment. The focus is on the political incentives for labour-market reform. There will be more reform outside than inside the EMU to the extent that a national inflation bias can be reduced. But if there is a precautionary motive for low average unemployment in order to reduce the utility cost of macroeconomic variability, there could be more reform in a monetary union.

Suggested Citation

  • Calmfors, L., 1998. "Unemployment, Labour-Market Reform and Monetary Union," Papers 639, Stockholm - International Economic Studies.
  • Handle: RePEc:fth:stocin:639
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    Citations

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    Cited by:

    1. Wyplosz, Charles, 1999. "Towards A More Perfect EMU," CEPR Discussion Papers 2252, C.E.P.R. Discussion Papers.
    2. Jordahl, H. & Laseen, S., 1999. "Central Bank Conservatism and Labor Market Reform," Papers 1999:23, Uppsala - Working Paper Series.
    3. Obstfeld, Maurice, 1998. "EMU: Ready, or Not?," Center for International and Development Economics Research, Working Paper Series qt8qn3v8j3, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
    4. Barry Eichengreen, 2000. "Solving the Currency Conundrum," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 29(3), pages 315-339, November.

    More about this item

    Keywords

    UNEMPLOYMENT ; LABOUR MARKET ; MONETARY AREAS ; MONETARY POLICY;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E69 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Other
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • J29 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Other

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