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EMU and Labour Market Policy: Tensions and Solutions

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  • Giuseppe Bertola

Abstract

Reforms observed in EMU do not conform to commonly expressed views that international economic integration comes with labour market deregulation, and that both are beneficial. This essay examines the country-specific policy reforms evidence generated by inception of Economic and Monetary Union and by its disruption during the Great Recession and the Eurozone crisis, outlines non-technically how a distributional perspective can explain key features of those experiences, and discusses how these empirical observations and theoretical insights may bear on the sources and consequences of more general tensions between Europe’s policymaking framework and market integration process.

Suggested Citation

  • Giuseppe Bertola, 2017. "EMU and Labour Market Policy: Tensions and Solutions," European Economy - Discussion Papers 054, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    • Handle: RePEc:euf:dispap:054
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    File URL: https://economy-finance.ec.europa.eu/publications/emu-and-labour-market-policy-tensions-and-solutions_en
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    Cited by:

    1. Roberto Bande & Marika Karanassou & Héctor Sala, 2019. "Employment in Spanish regions: cost-control or growth-enhancing policies?," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 62(3), pages 601-635, June.
    2. Bertola, Giuseppe, 2019. "Wedges: Distribution, distortions, and market integration," European Journal of Political Economy, Elsevier, vol. 59(C), pages 21-32.

    More about this item

    JEL classification:

    • F2 - International Economics - - International Factor Movements and International Business
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies

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