G2TT
来源类型Discussion paper
规范类型论文
来源IDDP1518
DP1518 A Stochastic Dynamic General Equilibrium Model for Greece
Tryphon Kollintzas; Vanghelis Vassilatos
发表日期1996-11-30
出版年1996
语种英语
摘要In this paper we analyse the likely effects of Economic and Monetary Union (EMU) on European unemployment. We start by describing the current unemployment situation in the European Union (EU). In so doing, we try to assess the relative importance of European, national and regional shocks in driving national and regional unemployment rates, and also to estimate the degree of real wage rigidity across EU countries. We then discuss various factors which, in principle, may contribute towards explaining the high and persistent EU unemployment rates, focusing on several labour market institutions like collective bargaining, job security legislation and unemployment benefits. The final part of the paper analyses, in light of the above evidence, the likely impact of EMU on European unemployment in the short and medium term. We conclude that while the presently high European unemployment rates should not preclude EMU from being established, the operation of the monetary union will be smoother and its net economic benefits larger if Member countries succeed in implementing those structural labour market reforms which are needed for unemployment to go to lower, more reasonable rates.
主题International Macroeconomics
关键词Labour market institutions Monetary union Structural reforms Unemployment
URLhttps://cepr.org/publications/dp1518
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/530657
推荐引用方式
GB/T 7714
Tryphon Kollintzas,Vanghelis Vassilatos. DP1518 A Stochastic Dynamic General Equilibrium Model for Greece. 1996.
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