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Persistent link: https://www.econbiz.de/10009488600
The Spanish labor market is not working: the unemployment rate is structurally very high; wages are not very responsive … to labor market conditions, causing a high cyclicality of unemployment; and the labor market is highly dual. Compared … bringing the unemployment rate closer to the EU15 average. The key reform needed to reduce the share of temporary workers is …
Persistent link: https://www.econbiz.de/10014402909
Labor markets around the world have become increasingly integrated over the last two decades, with the entry of China, India and the former Eastern bloc into the world trading system, the removal of restrictions on trade and capital flows, and rapid technological progress. At the same time, the...
Persistent link: https://www.econbiz.de/10014401060
Persistent link: https://www.econbiz.de/10009488210
The paper examines the causes, consequences, and potential cures of the large current account deficits in the Southern Euro Area (SEA). These were mostly driven by a decline in private saving rates. But it was the European Monetary Union and the Euro, which enabled these countries to maintain...
Persistent link: https://www.econbiz.de/10014402863
While inflation differentials in a monetary union can be benign, reflecting a catch-up process, or an adjustment mechanism to asymmetric shocks or different business cycles, they may also indicate distortions related to inefficiencies in domestic product and labor markets that amplify or make...
Persistent link: https://www.econbiz.de/10014396990