| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3682 |
| DP3682 Employee Referrals and Efficiency Wages | |
| Adriana D. Kugler | |
| 发表日期 | 2002-10-29 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | Stochastic simulations are used on the Liverpool Model of the UK to assess the effect of macroeconomic stability of the UK adopting the Euro. Instability increases substantially, particularly for inflation and real interest rates. A key factor is the extent of the Euro's instability against the dollar; by adopting a regional currency the UK imports this source of shocks, as well as losing its control of interest rates. The results are not highly sensitive to changes in assumptions about the degree of labour market flexibility, the use of fiscal policy, and increased convergence of monetary transmission. |
| 主题 | International Macroeconomics |
| 关键词 | Euro Floating Single currency Exchange rate instability Business cycle Transmission mechanisms |
| URL | https://cepr.org/publications/dp3682 |
| 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/532625 |
| 推荐引用方式 GB/T 7714 | Adriana D. Kugler. DP3682 Employee Referrals and Efficiency Wages. 2002. |
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