| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25347 |
| 来源ID | Working Paper 25347 |
| Quantifying the Benefits of Labor Mobility in a Currency Union | |
| Christopher L. House; Christian Proebsting; Linda L. Tesar | |
| 发表日期 | 2018-12-10 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Unemployment differentials are bigger in Europe than in the United States. Migration responds to unemployment differentials, though the response is smaller in Europe. Mundell (1961) argued that factor mobility is a precondition for a successful currency union. We use a multi-country DSGE model with cross-border migration and search frictions to quantify the benefits of increased labor mobility in Europe and compare this outcome to a case of fully flexible exchange rates. Labor mobility and flexible exchange rates both work to reduce unemployment and per capita GDP differentials across countries provided that monetary policy is sufficiently responsive to national output. |
| 主题 | Macroeconomics ; Consumption and Investment ; Money and Interest Rates ; Monetary Policy ; International Economics ; Trade ; International Factor Mobility ; International Finance ; International Macroeconomics |
| URL | https://www.nber.org/papers/w25347 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/583020 |
| 推荐引用方式 GB/T 7714 | Christopher L. House,Christian Proebsting,Linda L. Tesar. Quantifying the Benefits of Labor Mobility in a Currency Union. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25347.pdf（1214KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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