Is the euro working? The euro and European labour markets

Journal of Public Policy

Volumn 24, Issue 2, 2004, Pages 147-168

  Silvia, Stephen J ^a  

^a AMERICAN UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

CURRENCY MARKET; EUROPEAN MONETARY UNION; LABOR MARKET;

EURASIA; EUROPE;

EID: 3543038809     PISSN: 0143814X     EISSN: None     Source Type: Journal    
DOI: 10.1017/S0143814X0400008X     Document Type: Article

References (67)

1. Ackerlof, G.A., Dickens, W.T. and Perry, G.L. (1996) 'The Macroeconomics of Low Inflation', Brookings Papers on Economic Activity, 1, 1-59.
2. Alesina, A., Barro, R.J. and Tenreyro, S. (2002) 'Optimal Currency Areas', NBER Working Paper, no. w9072.
3. Artis, M. (2002) 'Currency Interdependence: What Economics has to Say', Journal of Public Policy, 22, 2, 111-118.
4. Artis, M., Krolzig, H.-M. and Toro, J. (1999) 'The European Business Cycle', Centre for Economic Policy Research, Discussion Paper 2242.
5. Barro, R.J. and Gordon, D.B. (1983) 'Rules, Discretion and Reputation in a Model of Monetary Policy', Journal of Monetary Economics, 12, 1, 101-121.
6. Bayoumi, T. and Eichengreen, B. (1993) 'Shocking Aspects of European Monetary Integration', in F. Torres and F. Giavazzi (eds.), Adjustment and Growth in the European Monetary Union. Cambridge: Cambridge University Press.
7. Bayoumi, T. and Eichengreen, B. (1996) 'Optimum Currency Areas and Exchange Rate Volatility: Theory and Evidence Compared', in B.J. Cohen (ed.), International Trade and Finance New Frontiers for Research: Essays in Honor of Peter Kenen. Cambridge: Cambridge University Press.
8. Bayoumi, T. and Eichengreen, B. (1997) 'Ever Closer to Heaven? An Optimum-Currency-Area Index for European Countries', European Economic Review, 41, 761-770.
9. Bayoumi, T. and Prasad, E. (1996) 'Currency Unions, Economic Fluctuations, and Adjustment - Some New Empirical Evidence', IMF Working Papers, WP/96/81.
10. Beck, G.W. and Weber, A.A. (2001) 'How Wide are European Borders? New Evidence on the Integration Effects of Monetary Unions', 56th European Meeting of the Econometric Society Lausanne, Switzerland, 25-29 August.
11. Bentolilla, S. (1997) 'Sticky Labor in Spanish Regions', European Economic Review 41, 3 5, 591-598.
12. Bertola, G. (2000) 'Labor Markets in the European Union', ifo-Studien 46, 1, 99-122.
13. Blanchard, O.J. and Katz, L.F. (1992) 'Regional Evolutions', Brookings Papers on Economic Activity I, 1-75.
14. Blanchard, O. and Wolfers, J. (2000) 'The Role of Shocks and Institutions in the Rise of European Unemployment', Economic Journal 110, 1-33.
15. Braunerhjelm, P. et al. (2000) 'Integration and the Regions of Europe: How the Right Policies can Prevent Polarization', Centre For Economic Policy Research, Monitoring European Integration to.
16. Cadiou, L., Guichard, S. and Mauel, M. (1999) 'Wage Flexibility and EMU', La Lettre do CEPII, no. 180.
17. Calmfors, L. (2001) 'Wages and Wage-Bargaining Institutions in the EMU - A Survey of the Issues', CESifo Working Paper, no. 520, Center for Economic Studies and ifo Institute for Economic Research, Munich.
18. Chang, M. (2002) 'The Logic of Collective Responsibility in European Monetary Integration', Journal of Public Policy 22, 2, 239-255.
19. Corsetti, G. and Pesenti, P. (2002) 'Self-Validating Optimum Currency Areas', Centre for Economic Policy Research, Discussion Paper 3220.
20. Dornbusch, R., Favero, C. and Giavazzi, F. (1998) 'Immediate Challenges for the European Central Bank', Economic Policy 26.
21. Dohse, D. and Krieger-Boden, C. (1998) Währungsunion und Arbeitsmarkt. Auftakt zu unabdingbaren Reformen. Tübingen: Mohr Siebeck.
22. Eichengreen, B. (1993) 'European Monetary Unification and Regional Unemployment', in L. Ulman, B. Eichengreen and W.T. Dickens (eds.), Labor in an Integrated Europe. Washington, DC: Brookings.
23. Emerson, M. et al. (1992) One Market, One Money: An Evaluation of the Potential, Benefits and Costs of Forming an Economic and Monetary Union. Oxford: Oxford University Press.
24. European Commission, Directorate General Enterprise (1999) The Competitiveness of European Industry: 1999 Report. Working document of the services of the European Commission. Brussels: European Commission.
25. European Council (1997) 'Resolution of the European Council on the Stability and Growth Pact', Bulletin EU, 6.
26. Feldstein, M. (1997) 'The Political Economy of the European Economic and Monetary Union', Journal of Economic Perspectives 11, 4, 23-42.
27. Frankel, J.A. and Rose, A. (1997) 'Is EMU more Justifiable expost than ex ante?' European Economic Review 41, 3-5, 761-770.
28. Frankel, J.A. and Rose, A. (2002) 'An Estimate of the Effect of Common Currencies on Trade and Income', Quarterly Journal of Economics 117, 2, 437-466.
29. Franzese, R.J., Jr. (2000) 'Credibility, Conservative Monetary Policy and Wage/ Price-Bargaining Organization: A Review with Implications for Monetary Policy in the European Common Currency Area', Center for Political Studies, Institute for Social Research, University of Michigan.
30. Funke, M. (2000) 'Macroeconomic Shocks in Euroland vs. The UK: Supply, Demand, or Nominal?' European Institute, Robert Schuman Centre, Working Paper no. 00-37.
31. Issing, O. (2000a) 'Europe: Common Money Political Union?' Economic Affairs 20, 1, 33-39.
32. Issing, O. (2000b) 'The Globalisation of Financial Markets', Ottobeuren: (http://www.eeb.int/key/00/sp000912pdf).
33. Jean, S. and Nicoletti, G. (2002) 'Product Market Regulation and Wage Premia in Europe and North America: An Empirical Investigation', Economics Department Working Paper, No. 318. Paris: OECD.
34. Kenen, P.B. (1969) 'The Theory of Optimum Currency Areas: An Eclectic View', in R.A. Mundell and A.K. Swoboda (eds.), Monetary Problems of the International Economy. Chicago: University of Chicago Press.
35. Kouparitsas, M.A. (1998) 'Are International Business Cycles Different under Fixed and Flexible Exchange Rate Regimes?' Economic Perspectives 22, 1, 46-64.
36. Kouparitsas, M.A. (1999) 'Is the United States an Optimal Currency Area?' Chicago Fed Letter, no. 146.
37. Krolzig, H.-M. (2001) 'Markov-Switching Procedures for Dating the Euro-Zone Business Cycle', Vierteljahrshefte zur Wirtschaftsforschung 70, 3, 339-351.
38. Krueger, A.B. (2000) 'From Bismarck to Maastricht: The March to European Union and the Labor Compact', NBER Working Paper, no. w7456, 18-20.
39. Krueger, A.B. and Pischke, J.-S. (1997) 'Observations and Conjectures on the U.S. Employment Miracle', Princeton, University Industrial Relations Section, Working Paper no. 390.
40. Krugman, P. (1993) 'Lessons of Massachusetts for EMU', in F. Torres and F. Giavazzi (eds.), Adjustment and Growth in the European Monetary Union. Cambridge: Cambridge University Press, 241-269.
41. Krugman, P.R. and Obstfeld, M. (2003) International Economics: Theory and Practice, 6th edn. Boston: Addison Wesley.
42. Krugman, P. and Venebles, A.J. (1996) 'Integration, Specialization, and Adjustment', European Economic Review 40, 959-967.
43. Lucas, R.E. (1972) 'Econometric Testing of the Natural Rate Hypothesis', in O. Eckstein (ed.), Econometrics of Price Determination. Washington, DC: Board of Governors of the Federal Reserve System, 50-59.1
44. McKinnon, R.I. (1963) 'Optimum Currency Areas', American Economic Review 53, 4, 717-725.
45. Mongelli, F.P. (2002) '"New" Views on the Optimum Currency Area Theory: What is EMU Telling Us?' European Central Bank, Working Paper Series, 8-10.
46. Mundell, R.A. (1961) 'A Theory of Optimum Currency Areas', American Economic Review 51, 4, 657-665.
47. Nickell, S. (1997) 'Unemployment and Labor Market Rigidities: Europe versus North America', Journal of Economic Perspectives 11, 3, 55-74.
48. Obstfeld, M. and Peri, G. (1998) 'Regional Nonadjustment and Fiscal Policy: Lessons for EMU', NBER Working Paper, no. w6431.
49. Obstfeld, M. and Rogoff, K. (2000) 'Do We Really Need a New International Monetary Compact?' NBER Working Paper no. 7864.
50. Organization for Economic Cooperation and Development (1994) The OECD Jobs Study: Facts, Analysis, Strategies. Paris: OECD.
51. Organization for Economic Cooperation and Development (1999) EMU: Facts, Challenges and Policies. Paris, OECD.
52. Organization for Economic Cooperation and Development (2001) OECD Economic Surveys: Euro Area. Paris: OECD.
53. Organization for Economic Cooperation and Development (2002) Euro Area, Country Reviews, OECD Economic Surveys. Paris: OECD.
54. Oudenaren, J. van (2000) Uniting Europe: European Integration and the Post-Cold War World. Lanham: Rowen & Littlefield.
55. Persson, T. (2001) 'Currency Unions and Trade: How Large is the Treatment Effect?' Economic Policy 33, 435-448.
56. Rogoff, K. (2001) 'Why not a Global Currency?' American Economic Review 91, May, 243-247.
57. Rose, A. (2001) 'Currency Unions and Trade: The Effect is Large', Economic Policy 33, 449-461.
58. Rose, A. (2002) 'The Effect of Common Currencies on International Trade: Where do We Stand?' Economics Department, Monetary Authority of Singapore, Occasional Paper no. 22.
59. Rose, A.K. and Wincoop, E. van (2001) 'National Money as a Barrier to International Trade: The Real Case for Currency Union', American Economic Review 91, 386-390.
60. Rose, R. (2002) 'Putting Monetary Politics in its Political Place', Journal of Public Policy 22, 2, 257-269.
61. Sala-i-Martin, X. and Sachs, J. (1991) 'Fiscal Federalism and Optimum Currency Areas: Evidence for Europe from the United States', NBER Working Paper, no. 3855.
62. Statistisches Bundesamt (2002) Statistisches Jahrbuch 2002. Für die Bundesrepublik Deutschland. Wiesbaden: Metlzer-Poeschel.
63. Tenreyro, S. and Barro, R. (2003) 'Economic Effects of Currency Unions', NBER Working Paper, no. w9435.
64. Tesar, L.T. and Werner, I.M. (1995) 'Home Bias and High Turnover', Journal of International Money and Finance 14, 4, 467-492.
65. Tower, E. and Willett, T.D. (1976) 'The Theory of Optimal Currency Areas and Exchange Rate Flexibility', Princeton Special Papers in International Economics, II.
66. Vials, J. and Jimeno, J.F. (1996) 'Monetary Union and European Unemployment', Discussion Paper, no. 1485, Centre for Economic Policy Research, London.
67. Walsh, C.E. (1995) 'Central Bank Independence and the Short-Run Output-Inflation Trade-off in the European Community', in B. Eichengreen, J. Frieden and J. von Hagen (eds.), Monetary and Fiscal Policy in an Integrated Europe. Berlin: Springer: 12-37.