Unemployment, Labour-Market Reform and Monetary Union

L. Calmfors

Working Papers from Stockholm - International Economic Studies

Abstract: The paper analyses various mechanism through which monetary union in Euroep may affect unemployment. The focus is on the political incentives for labour-market reform. There will be more reform outside than inside the EMU to the extent that a national inflation bias can be reduced. But if there is a precautionary motive for low average unemployment in order to reduce the utility cost of macroeconomic variability, there could be more reform in a monetary union.

Keywords: UNEMPLOYMENT; LABOUR MARKET; MONETARY AREAS; MONETARY POLICY (search for similar items in EconPapers)
JEL-codes: E58 E69 F33 J29 (search for similar items in EconPapers)
Pages: 34 pages
Date: 1998
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:stocin:639

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