Starting from the theoretical argument underlying the “hump shape” hypothesis, the paper investigates the various dimensions of centralisation in the wage formation process. The diversity of effects discussed in the paper makes it harder to arrive at unambiguous policy conclusions. Careful...

EMU - A Swedish Perspective provides a comprehensive and up-to-date survey of the EMU project. The main advantages and disadvantages of a single currency are evaluated. A key feature of the analysis is the attempt to integrate economic and political aspects. The book is a revised version of the...

Monetary union, such as the Economic and Monetary Union in Europe (EMU), may affect incentives for labor market reform, and thus equilibrium unemployment, through several mechanisms. If an inflation bias exists, there is usually a stronger incentive to reduce equilibrium unemployment through...