| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4787 |
| DP4787 Mutual Fund Competition and Stock Market Liquidity | |
| Massimo Massa | |
| 发表日期 | 2004-12-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | According to the traditional 'optimum currency area' approach, the case for adopting a common currency is stronger if the countries are subject to relatively similar output shocks. This Paper takes a different approach and highlights the fact that high exchange rate volatility may as well signal high costs for labour markets. The impact of exchange rate volatility on labour markets in the CEECs is analysed, finding that volatility vis-à-vis the euro significantly lowers employment growth and raises the unemployment rate. Hence, the elimination of exchange rate volatility can be considered equally important for labour markets as a removal of employment protection legislation. |
| 主题 | International Macroeconomics |
| 关键词 | Central and eastern europe Currency union Euroization Exchange rate variability Job creation |
| URL | https://cepr.org/publications/dp4787 |
| 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/533701 |
| 推荐引用方式 GB/T 7714 | Massimo Massa. DP4787 Mutual Fund Competition and Stock Market Liquidity. 2004. |
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