This paper addresses aspects of the interaction between labor market institutions and the process of Economic and Monetary Union in Europe. It reviews the nature and possible motivation of institutions which limit both wage and employment flexibility in Europe, with particular attention to the...

The author identifies sources of volatility in Argentina that include weak international financial links, a recurrent credit crunch and financial underdevelopment problem, a fragile fiscal situation, and a pervasive profit and collateral squeeze mechanism brought about by a rigid labor market...