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Achievement or burden? Labour standards in a monetary union

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  • Carsten Hefeker

Abstract

This paper examines the argument that monetary union requires an equalization of labour standards in member countries. It is shown that labour standards have an influence on national rates of unemployment, but that it is independent from monetary union.

Suggested Citation

  • Carsten Hefeker, 1998. "Achievement or burden? Labour standards in a monetary union," Applied Economics Letters, Taylor & Francis Journals, vol. 5(6), pages 383-386.
    • Handle: RePEc:taf:apeclt:v:5:y:1998:i:6:p:383-386
    DOI: 10.1080/135048598354762
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    References listed on IDEAS

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    1. Kenen,Peter B., 1995. "Economic and Monetary Union in Europe," Cambridge Books, Cambridge University Press, number 9780521558839, September.
    2. Hefeker, Carsten, 1996. "Regional Free Trade and Social Integration," Public Choice, Springer, vol. 87(3-4), pages 379-393, June.
    3. Olivier J. Blanchard & Lawrence H. Summers, 1986. "Hysteresis and the European Unemployment Problem," NBER Chapters, in: NBER Macroeconomics Annual 1986, Volume 1, pages 15-90, National Bureau of Economic Research, Inc.
    4. Blanchard, Olivier J. & Summers, Lawrence H., 1987. "Hysteresis in unemployment," European Economic Review, Elsevier, vol. 31(1-2), pages 288-295.
    5. Barro, Robert J & Gordon, David B, 1983. "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 589-610, August.
    6. Driffill, John & van der Ploeg, Frederick, 1993. "Monopoly Unions and the Liberalisation of International Trade," Economic Journal, Royal Economic Society, vol. 103(417), pages 379-385, March.
    7. Corneo, Giacomo, 1995. "National wage bargaining in an internationally integrated product market," European Journal of Political Economy, Elsevier, vol. 11(3), pages 503-520, September.
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