The euro and structural reforms / Alberto Alesina, Silvia Ardagna, Vincenzo Galasso.
Material type:
TextSeries: Working paper series (National Bureau of Economic Research) ; no. 14479.Publication details: Cambridge, Mass. : National Bureau of Economic Research, 2008Description: 35, [2] p. : ill. ; 22 cmSubject(s): Euro | Commerce -- Deregulation -- Europe | Labor market -- Deregulation -- EuropeLOC classification: HB1 | .N38 no. 14479Online resources: Click here to access online Summary: This paper investigates whether or not the adoption of the Euro has facilitated the introduction of structural reforms, defined as deregulation in the product markets and liberalization and deregulation in the labor markets. After reviewing the theoretical arguments that may link the adoption of the Euro and structural reforms, we investigate the empirical evidence. We find that the adoption of the Euro has been associated with an acceleration of the pace of structural reforms in the product market. The adoption of the Euro does not seem to have accelerated labor market reforms in the "primary labor market;" however, the run up to the Euro adoption seems to have been accompanied by wage moderation. We also investigate issues concerning the sequencing of goods and labor market reforms.
| Item type | Current library | Collection | Call number | Copy number | Status | Date due | Barcode |
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University of Macedonia Library Βιβλιοστάσιο Β (Stack Room B) | Research Papers | HB1.N38 no. 14479 (Browse shelf (Opens below)) | 1 | Available | 0013119115 |
Includes bibliographical references (p. 21-23).
This paper investigates whether or not the adoption of the Euro has facilitated the introduction of structural reforms, defined as deregulation in the product markets and liberalization and deregulation in the labor markets. After reviewing the theoretical arguments that may link the adoption of the Euro and structural reforms, we investigate the empirical evidence. We find that the adoption of the Euro has been associated with an acceleration of the pace of structural reforms in the product market. The adoption of the Euro does not seem to have accelerated labor market reforms in the "primary labor market;" however, the run up to the Euro adoption seems to have been accompanied by wage moderation. We also investigate issues concerning the sequencing of goods and labor market reforms.
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