Designing EU-US Atlantic Monetary Relations: Exchange Rate Variability and Labor Markets
The variability of the euro seems to have a statistically significant and economically small, but non-negligible, impact on labour markets in Euroland. Unemployment tends to increase and employment growth tends to fall whenever the effective exchange rate of the euro or the bilateral euro/dollar exchange rate becomes more variable. In the US a similar effect seems to be operating, but it is statistically less strong, especially concerning employment growth, which seems largely insulated from exchange rate variability. These results fit the general observation that US labour markets are more flexible and that the euro area is considerably more open than the US (exports of goods and services amount to close to 18 per cent of Euroland GDP versus only about 11 per cent for the US). Copyright Blackwell Publishers Ltd 2002.
(This abstract was borrowed from another version of this item.)
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||2001|
|Contact details of provider:|| Postal: D-70593 Stuttgart|
Web page: http://www.uni-hohenheim.de/institution/institut-fuer-economics-11
More information through EDIRC