Arpaia, Alfonso; Pichelmann, Karl - Volkswirtschaftliche Fakultät, … - 2007
flexibility in EMU and attempts to draw a few lessons from the experience of the early years. First, we set the stage for the … mechanisms in the euro area to a stress test in recent years. Against this background, this paper takes a fresh look at wage … developments in the euro area over the recent business cycle. Then, the paper presents an empirical assessment of wage inertia …