Euro Area Policies: Selected Issues

International Monetary Fund

No 2005/266, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper for euro area policies analyzes the product market regulation and benefits of wage moderation. The paper identifies structural shifts in the relationship between wages and unemployment rates—a “wage curve”—in 20 industrial countries. It reviews euro area and cross-country developments in labor costs and their bivariate relationship with unemployment rates and business GDP. The paper also examines aspects of the European Central Bank’s monetary analysis, within the context of their overall two-pillar policy framework, and issues surrounding its use.

Keywords: ISCR; CR; EU bank; market; bank; product market regulation; house price; banking sector; wage moderation; wage-curve shift; labor market reform; Housing prices; Asset prices; Inflation; Commodity markets; Europe; Central and Eastern Europe; Global; Western Europe (search for similar items in EconPapers)
Pages: 180
Date: 2005-08-03
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Citations: View citations in EconPapers (13)

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