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Monetary Union and Precationary Labour-Market Reform
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies.
1998 (English)Report (Other academic)
Abstract [en]

The paper demonstrates that policy makers may have a precautionary motive to undertake more labour-market reform - an hence attain lower equilibrium unemployment - inside a monetary union than outside. The reason is a desire to reduce the utility cost of variations in employment when assymetric shocks can no longer be stabilised through domestic monetary policy.

Place, publisher, year, edition, pages
Stockholm: IIES , 1998. , 16 p.
Seminar Paper / Institute for International Economic Studies, Stockholm University, ISSN 0347-8769 ; 659
Keyword [en]
monetary union, asymmetric shocks, stabilisation policy, labour-market reform, equilibrium unemployment
National Category
URN: urn:nbn:se:su:diva-41084OAI: diva2:328238
Available from: 2010-07-02 Created: 2010-07-02 Last updated: 2010-07-02Bibliographically approved

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Calmfors, Lars
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