IDEAS home Printed from https://ideas.repec.org/a/sae/treure/v4y1998i1p36-47.html
   My bibliography  Save this article

The euro - wages - employment

Author

Listed:
  • Claus Noé

    (Freelance journalist (regular contributor to Die Zeit))

Abstract

The arrival of the euro will do away with all possibilities of using exchange rate adjustments to accommodate excessively high or excessively low pay settlements. In a situation of mass unemployment and extremely slow price developments, there is a risk of excessively low wage settlements being reached in order to win markets to the detriment of Euro-partners. There is a threat of mercantilist races to devaluation and a deflatory spiral would destroy any successes achieved on the growth and employment front. Under a single monetary and coordinated fiscal policy (EU stability pact), there is also a need to seek to coordinate incomes policies. The participants must undertake to abide by a macro-economic criterion of wage determination. The productivity trends of the national economies, taken together with the European Central Bank's unavoidable inflation forecast, are useful macro-economic indicators. Such concertation, hitherto neglected in the Treaties, is a task for the labour market partners and the Community bodies.

Suggested Citation

  • Claus Noé, 1998. "The euro - wages - employment," Transfer: European Review of Labour and Research, , vol. 4(1), pages 36-47, February.
    • Handle: RePEc:sae:treure:v:4:y:1998:i:1:p:36-47
    DOI: 10.1177/102425899800400106
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/102425899800400106
    Download Restriction: no
    File URL: https://libkey.io/10.1177/102425899800400106?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:treure:v:4:y:1998:i:1:p:36-47. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.