Wages and the Euro

Wages and the Euro by Gustav A. Horn, Wolfgang Scheremet, Rudolf Zwiener.

With the abolition of exchange rates the role of wage formation in the European Monetary Union changes fundamentally and national economic policy in particular fiscal policy faces new restrictions. These are analysed in the first two chapters. A major impact is expected for wage formation. To achiev...

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Bibliographic Details
Main Authors: Horn, Gustav A. (Author), Scheremet, Wolfgang (Author), Zwiener, Rudolf (Author)
Corporate Author: SpringerLink (Online service)
Format: eBook
Language:English
Published: Heidelberg : Physica-Verlag HD : Imprint: Physica, 1999.
Edition:1st ed. 1999.
Series:Contributions to Economics,
Springer eBook Collection.
Subjects:
Macroeconomics.
Labor economics.
Electronic resources (E-books)
Online Access:Click to view e-book
Holy Cross Note:Loaded electronically.
Electronic access restricted to members of the Holy Cross Community.
Table of Contents:
  • 1 Economic Policy in Wake of Monetary Union
  • 2 An Economic Policy Framework for European Monetary Union
  • 2.1 Some Preliminary Theoretical Considerations
  • 2.2 The Function of Exchange Rates
  • 2.3 Monetary Policy in a Single Currency Area
  • 2.4 Fiscal Policy after the Beginning of Monetary Union
  • 3 The Role of Wage Policy after the Introduction of Monetary Union
  • 3.1 Wage Development and Convergence in the Run-Up to Monetary Union
  • 3.2 Wage Negotiation Systems in Europe
  • 3.3 Labour Market Flexibility in a Common Currency Area
  • 3.4 Institutional Conditions for an European Wage Policy
  • 3.5 Non-Wage-Related Competitive Elements
  • 3.6 Wage Policy in a Common Currency Area
  • 4 Simulations on the Future Development for the European Labour Market
  • 4.1 The Model and its Modifications
  • 4.2 The Structure of the Simulation
  • 4.3 The Effects of Monetary Union
  • 4.4 Nominal Wage Decreases
  • 4.5 Real Wage Decreases
  • 4.6 Transforming the Social Security Systems
  • 4.7 Productivity-Oriented Wage Formation
  • 4.8 Reacting to Shocks
  • 5 Conclusions and Economic Policy Recommendations
  • References.

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