Incomplete monetary union and Europe's current crisis -- From order to disorder : how monetary union changed national labor markets -- Monetary regimes, sectoral wage relations and the current account crisis in the EMU south : empirical evidence -- National central banks promoting inflation...

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...

Studies the interactions between monetary and wage policies in the euro area. This book discusses the process of policy competition and the structure of policy cooperation. It also features numerical simulations of policy competition and numerical solutions to policy cooperation