Franz, Wolfgang - Institute for the Study of Labor (IZA) - 1998
jobs in the past. Decreased transaction costs might have a positive effect on employment. On the other hand, the Euro will … the labor market. Assessing these aspects of EMU, one should not expect massive positive employment effects of the Euro. … case. Second, the loss of the instrument of nominal exchange rates per se should not be exaggerated, since, empirically …