haku: @author Jackman, R. / yhteensä: 7
viite: 2 / 7
| Tekijä: | Jackman, R. Savouri, S. |
| Otsikko: | EU labour markets and monetary union. |
| Lehti: | Economic Outlook
1998 : MAY, VOL.22:3, p. 12-17 |
| Asiasana: | Labour markets Monetary integration European monetary system |
| Kieli: | eng |
| Tiivistelmä: | The authors suggest that there are two mechanisms of labour market adjustment to shocks. The first is changes in relative wages. The second is labour migration, and this mechanism operates where the markets constitute for economic purposes a single market. The single currency appears to be closing down the first mechanim of adjustment among its member states before there is sufficient real convergence of their economies to make the second a realistic prospect. A single European language and harmonisation of laws and institutional practices seem pre-requisite for a substantial increase in labour mobility. The prospect for depressed areas in Europe is thus bleak. In Europe, unlike in the US, the adjustment to national or regional labour market shocks will depend on wage flexibility. |
SCIMA