Globalization and European integration are substantially changing the interregional division of labor in Europe and the industrial specialization of European regions, thereby potentially affecting the extent of disparities between countries and regions. This paper reviews several theoretical...

Abstract The current paper deals with the labour market effects of European Monetary Union (EMU). We compare the EU-memberstates’ susceptibility to asymmetric shocks and their labour market flexibility under status quo conditions. The findings are related to the question which countries are -...