The labour market and the Euro
Pissarides, C.
(2008).
The labour market and the Euro.
Cyprus Economic Policy Review,
2(1), 3-9.
(2008).
The labour market and the Euro.
Cyprus Economic Policy Review,
2(1), 3-9.
This paper investigates the reasons that the labour market is given so much prominence in discussions about the euro. It concludes that differences in labour market flexibility across countries can have the same impact as asymmetric shocks and so warrant different monetary policies. The paper further discusses the role of welfare policy and migration in European integration.