EMU Challenges European Labor Markets

By Christiane Krieger-Boden, Dirk Dohse, Rüdiger Soltwedel

September 1, 1999

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Format: Chicago

Christiane Krieger-Boden, Dirk Dohse, and Rüdiger Soltwedel. EMU Challenges European Labor Markets, (USA: International Monetary Fund, 1999) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper discusses the challenges that European Monetary Union (EMU) poses for European labor markets, emphasizing in particular the regional dimension of the European unemployment problem. The authors argue that the inability of labor markets to adjust to shocks is largely a regional problem within EMU member countries, requiring structural reforms to enhance labor market flexibility but also a decentralization of competencies and greater diversity of labor market outcomes. Any attempt to successfully reform European labor markets and “make them fit for EMU” has to take into account the regional–and even a more decentralized firm–perspective.

Subject: Economic integration, Employment, Labor, Labor market flexibility, Labor markets, Monetary unions, Unemployment

Keywords: Adjustment to shocks, Branch wage agreement, Business organization, Collective bargaining, Employment, EU member government, EU member states, Europe, European monetary union, Formation system, Indexation mechanism, Labor market flexibility, Labor market flexibility, Labor markets, Monetary unions, Pay system, Regional labor markets, Shaping pay system, Single currency, Unemployment, Wage dumping, Wage equalization, Wage flexibility, Wage formation process, Wage indexation mechanism, Wage policy, Wage-bargaining system, WP

Publication Details

Pages:

50
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1999/131
Stock No:

WPIEA1311999
ISBN:

9781451855265
ISSN:

1018-5941

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