Does monetary union reduce employment?.

We use a two-country monetary model with unionized labor markets and open-economy spillovers to study the macroeconomic consequences of the formation of a monetary union. It is shown that the monetary regime affects the trade-off between real consumer wages and employment faced by the unions. Consequently, the equilibrium employment is endogenous and depends on the monetary regime.

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Year of publication:	2001
Authors:	Rantala, A.
Subject:	MONETARY UNION \| EMPLOYMENT \| LABOUR MARKET \| CENTRAL BANKS

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Type of publication:	Book / Working Paper
Notes:	36 pages
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies ; F33 - International Monetary Arrangements and Institutions ; J51 - Trade Unions: Objectives Structure, and Effects
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005619086