Peripheral Europe's debt and German wages: The role of wage policy in the Euro area

International Journal of Public Policy

Volumn 7, Issue 1-3, 2011, Pages 83-96

  Stockhammer, Engelbert ^a  

^a KINGSTON UNIVERSITY   (United Kingdom)

Author keywords

Euro crisis; Europe; Financial crisis; Germany; Sovereign debt crisis; Wage coordination; Wage policy

Indexed keywords

EID: 79953860219     PISSN: 17400600     EISSN: 17400619     Source Type: Journal    
DOI: 10.1504/IJPP.2011.039577     Document Type: Article

References (25)

1. Arestis, P. and Sawyer, M. (2004) 'On the main ingredients of the European economic and monetary union', International Journal of Political Economy, Vol. 34, pp.5-18. (Pubitemid 41357302)
2. Arestis, P., McCauley, C. and Sawyer, M. (2001) 'An alternative stability pact for the European Union', Cambridge Journal of Economics, Vol. 25, pp.113-130.
3. Buiter, W.H. and Rahbari, E. (2010) 'Greece and the fiscal crisis in the EMU', CEPR Policy Insight No. 51
4. ECB (2010) 'Economic and monetary developments', ECB Monthly Bulletin, June.
5. Eichengreen, B. (2010) 'Ireland's reparations burden', (original appeared as Jammerliches Versagen, Handelsblatt, 1 December 2010), available at http://www.irisheconomy.ie/index.php/2010/12/01/barry-eichengreen-on-the-irish- bailout/ (accessed on 21 January 2011).
6. EuroMemo Group (2010) 'Confronting the crisis: austerity or solidarity', EuroMemorandum 2010/11, available at http://www2.euromemorandum.eu/uploads/ euromemorandum-2010-2011-english.pdf.
7. European Commission (1990) 'One market, one money: an evaluation of the potential benefits and costs of forming a monetary and economic union', European Economy, Vol. 44.
8. Flassbeck, H. and Spiecker, F. (2005) 'Die deutsche Lohnpolitik sprengt die Europaische Ẅahrungsunion', WSI Mitteilungen 12/2005.
9. Glyn, A. (2004) Capitalism Unleashed: Finance, Globalization and Welfare, Oxford University Press.
10. Harvey, D. (2005) A Short History of Neoliberalism, Oxford University Press, Oxford.
11. Hein, E. and Truger, A. (2004) 'Macroeconomic coordination as an economic policy concept-opportunities and obstacles in the EMU', in Hein, E., Niechoj, T., Schulten, T., Truger, A. (Eds.): Macroeconomic Policy Coordination in Europe and the Role of the Trade Unions, ETUI, Brussels.
12. Hein, E. and Truger, A. (2005) 'European monetary union: nominal convergence, real divergence and slow growth?', Structural Change and Economic Dynamics, Vol. 16, No. 1, pp.7-33. (Pubitemid 40106428)
13. Huffschmid, J. (2005) 'Economic policy for a social Europe: a critique of neo-liberalism and proposals for alternatives', Palgrave Macmillan, Basingstoke.
14. IMF (2008) Global Financial Stability Report, October 2008, IMF, Washington, DC.
15. Lapavitsas, C., Kaltenbrunner, A., Lindo, D., Michell, J., Painceira, J.P., Pires, E., Powell, J., Stenfors, A. and Teles, N. (2010a) 'Eurozone crisis: beggar thyself and thy neighbour', RMF occasional report, March 2010, available at http://researchonmoneyandfinance.org/media/reports/eurocrisis/ fullreport.pdf.
16. Lapavitsas, C., Kaltenbrunner, A., Lambrinidis, G., Lindo, D., Meadway, J., Michell, J., Painceira, J.P., Pires, E., Powell, J., Stenfors, A. and Teles, N. (2010b) 'Eurozone between austerity and default', RMF occasional report, September 2010, available at http://researchonmoneyandfinance.org/media/reports/ eurocrisis/fullreport.pdf.
17. Larch, M., van den Noord, P. and Jonung, L. (2010) 'The stability and growth pact: lessons from the great recession', DG Economic and Financial Affairs Economic Papers 429.
18. Moschovis, G. and Servera, M.C. (2009) 'External imbalances of the Greek economy: the role of fiscal and structural policies', ECFIN Country Focus, Vol. 6, No. 6.
19. Schulten, T. (2004) 'Solidarische Lohnpolitik in Europa: zur Politischen Okonomie der Gewerkschaften', VSA-Verlag, Hamburg.
20. Stockhammer, E. (2008) 'Wage coordination or wage flexibility?', Intervention, Vol. 1, pp.54-62.
21. Stockhammer, E. (2010a) 'Financialization and the global economy', Political Economy Research Institute Working Paper 242.
22. Stockhammer, E. (2010b) 'Neoliberalism, income distribution and the causes of the crisis', RMF Discussion Paper 19, available at http://www.researchonmoneyandfinance.org/media/papers/RMF-19-Stockhammer.pdf.
23. Stockhammer, E. (2011a) 'The macroeconomics of unemployment', in Hein, E. and Stockhammer, E. (Eds.): A Modern Guide to Keynesian Economics and Economic Policies, Edward Elgar.
24. Stockhammer, E. (2011b) 'Wage norms, capital accumulation and unemployment: a post Keynesian view', Oxford Review of Economic Policy, forthcoming.
25. Stockhammer, E., Onaran, Ö. and Ederer, S. (2009) 'Functional income distribution and aggregate demand in the Euro area', Cambridge Journal of Economics, Vol. 33, No. 1, pp.139-159.