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Wages and the Euro

Horn, Gustav A.; Scheremet, Wolfgang; Zwiener, Rudolf - 1999

With the abolition of exchange rates the role of wage formation in the European Monetary Union changes fundamentally and national economic policy in particular fiscal policy faces new restrictions. These are analysed in the first two chapters. A major impact is expected for wage formation. To...

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The design of the Eurosystem's monetary policy instruments

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