53991. EMU and Labour Markets: Vae Germania?
- Author:
- Daniel Gros
- Publication Date:
- 02-1999
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies (CEPS)
- Abstract:
- The outcome of the first round of wage negotiations in post-EMU Germany sheds some new light on the old question: What impact will the euro have on labour markets and unemployment? Economists would say that it depends on the structure of the bargaining process. In wage-setting, it seems that either one of the two extremes of full centralisation or complete fragmentation is conducive to low inflation and unemployment.
- Topic:
- Economics and Political Economy
- Political Geography:
- Europe and Germany