Transnationale Lohnkoordination in einem System fester Wechselkurse

Martin Höpner

WSI-Mitteilungen, 2014, vol. 67, issue 4, 317-319

Abstract: A synchronization of national inflation rates is the crucial precondition for a well-functioning fixed exchange rate regime. Given the close relationship between nominal unit labour cost and prices, inflation synchronization requires either transnational wage coordination or equal wage targets in all participating member states. These requirements, however, overtax wage formation in the heterogeneous Eurozone. Against this background the Euro was a bad idea right from the beginning. The article also warns against equipping the European Commission with competences in the fields of wage formation and the right to strike.

Date: 2014
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DOI: 10.5771/0342-300X-2014-4-317

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