Labor policies and capital mobility in theory and in EMU

Giuseppe Bertola

No 10088, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: "Race-to-the-bottom" deregulation is to be expected when markets operate across the borders of countries that independently choose and enforce labor policies. Less obviously, in pre-crisis EMU reforms of labor market policies were uneven and related to international imbalances. That pattern is readily explained by this paper's model of financial integration between differently capital-abundant countries, within which labor policies benefit individuals with wealth/labor income ratios different from country's aggregate.

Keywords: Policy competition; Public choice (search for similar items in EconPapers)
JEL-codes: F36 J08 (search for similar items in EconPapers)
Date: 2014-08
New Economics Papers: this item is included in nep-eec, nep-lab and nep-ltv
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Labor policies and capital mobility in theory and in EMU (2016)
Working Paper: Labor Policies and Capital Mobility in Theory and in EMU (2014)
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